TOT Badalona 1397

/ÞNFSP %FM BM EhPDUVCSF A

&TQBJ$

QFDFT QFS BOZT EFM (SVQ EF #FMMFT "SUT

"DUVBMJUBU

$SFBEB VOB QMBUBGPSNB BM .BT 3BN FO DPOUSB E VO IJQFSNFSDBU

3FQPSUBUHF

&M CBEBMPOÓ +PSHF +BWJFS 7È[RVF[ HVBOZB VO 0OEBT DPN B NJMMPS DPNVOJDBEPS EF M BOZ

1PMÓUJDB

- "KVOUBNFOU DPOHFMB FMT JNQPTUPT EF M BOZ J FM 11 EFNBOB RVF T BCBJYJO

&MT CBEBMPOJOT QPEFO USJBS FMT USFTPST EFM QBUSJNPOJ MPDBM

"NC WFV QSÛQJB 0SJPM -MBEØ J -PSFO[P .FSDIÈO

#FOFEJDDJØ EF MB JNBUHF EF TBOU 'SBODFTD E "TTÓT BM DBSSFS EFM NBUFJY OPN 0DUVCSF EF 'PUP DFEJEB QFS MB GBNÓMJB EF 5FSB

1PSUBEB JOEE

" MFT I EF MB NBUJOBEB E BRVFTU EJTTBCUF T IBO E FOEBSSFSJS FMT SFMMPUHFT VOB IPSB " MFT I TFSBO MFT I

VXPDUL % FOUSBEB

"DUVBMJUBU

1PMÓUJDB

&TQPSUT

3FQPSUBUHF

1FSTPOFT 4FUNBOB FO *NBUHFT

&TQBJ $

"HFOEB

$JOFNFT

/PWFUBUT

-B -MBS

.FEJDJOB J 4BMVU

/FDSPMÛHJRVFT

$POTVMUPSJ -FHBM

"OJNËMJB

/JOT $BSUFT EFMT -FDUPST

'PUP %FOÞODJB *NNPCJMJËSJB (BTUSPOPNJB (VJB EF 4FSWFJT 5PU .PUPS 1BTTBUFNQT )PSÛTDPQT

$MBTTJm DBUT 5FOEÒODJFT 5FDOPMPHJB

)RWR DQWLJD

#FOFEJDDJØ EF MB JNBUHF EF 4BOU 'SBODFTD E "TTÓT BM DBSSFS EFM NBUFJY OPN 0DUVCSF EF 'PUP DFEJEB QFS MB GBNÓMJB EF 5FSB 5PUIPN RVF EFTJUHJ WFVSF QVCMJDBEB EF GPSNB HSBUVÕUB BMHVOB GPUPHSBm B TFWB BOUJHB EF #BEBMPOB .POUHBU J 5JBOB QPU GFS MFT BSSJCBS B MB OPTUSB SFEBDDJØ VCJDBEB B $ -MFØ O B #BEBMPOB

r XXX FMUPUEJHJUBM DPN CBEBMPOB!FMUPUEJHJUBM DPN &%*5" 4VCJSBUT 4VCJSBUT &EJUPST 4 - /*' # %*44&/: (3®'*$ * ."26&5"$*» . 4VCJSBUT - $BUBMÈO . -ØQF[ 4 7JMMÏO 3&%"$$*» . 4VCJSBUT $ $BSWBKBM $ 5PSOFSP (JOB EF 5FSB + (BSDÓB / 3JCØ "%.*/*453"$*» 9 4VCJSBUT " 4PSJBOP / 'FSSFS *.13*.&*9 -JUPHSBm B 3PTÏT %*1¾4*5 -&("- # 0'*$*/&4 $ -MFØ O B #BEBMPOB r CBEBMPOB!FMUPUEJHJUBM DPN r XXX FMUPUEJHJUBM DPN %JTUSJCVDJØ HSBUVÕUB B #BEBMPOB .POUHBU J 5JBOB 'B TBCFS RVF FEJUB MB SFWJTUB BNC QBQFS FDPMÛHJD TFHVJOU MFT OPSNBUJWFT FVSPQFFT WJHFOUT

QBH JOEE

-B SFEBDDJØ EF 3FWJTUFT FM 505 OP FT GB OFDFTTËSJBNFOU SFTQPOTBCMF EFM DPOUJOHVU EFMT BSUJDMFT PQJOJPOT J NJTT BUHFT DPNFSDJBMT DPNQSFTPT FO FM TFUNBOBSJ %hBDPSE BNC MB MFHJTMBDJØ WJHFOU FO NBUÒSJB EF QSPUFDDJØ EF MB DPNQFUÒODJB BRVFTUB FEJUPSJBM DPNVOJDB RVF RVFEB UFSNJOBOUNFOU QSPIJCJEB MB SFQSPEVDDJØ UPUBM P QBSDJBM EFMT BOVODJT BSUJDMFT JNBUHFT P DPMrMBCPSBDJPOT RVF BQBSFJYFO FO BRVFTUB QVCMJDBDJØ m OT J UPU DJUBOU MB TFWB QSPDFEÒODJB -hFNQSFTB FEJUPSB OP BDUVB DPN B NJUKBO DFSB FO MFT USBOTBDDJPOT RVF QVHVJO EFSJWBS TF EhBRVFTUB QVCMJDBDJØ OJ FT SFTQPOTBCJMJU[B EF MB WFSJDJUBU EF MB QSP DFEÒODJB EF MFT EBEFT GBDJMJUBEFT QFMT BOVODJBOUT

727 %DGDORQD

1MBOUJMMB#BTF JOEE

727 %DGDORQD

DFWXDOLWDW

G HQWUDGD

%&OUSBEB JOEE

$BSMFT $BSWBKBM SFEBDDJP!FMUPUEJHJUBM DPN

727 %DGDORQD

-B DBNQBOZB E FMFDDJØ EFMT TFU USFTPST EFM QBUSJNPOJ DVMUVSBM NBUFSJBM EF MB DJVUBU EF #BEBMPOB KB UÏ VOB RVJO[FOB EF DBOEJEBUVSFT DPN B QSFMVEJ EF MB $BQJUBM EF MB $VMUVSB $BUBMBOB &M UFSNJOJ EF QSFTFOUBDJØ EF QSPQPTUFT m OBMJU[BSË FM EJWFOESFT E PDUVCSF TFSË MMBWPST RVBO FT EPOBSË QBT B MB QSFTFOUBDJØ GPSNBM J BM QFSÓPEF EF WPUBDJPOT #BEBMPOB t .PMUT CBEBMPOJOT FTUBO QSPQPTBOU BRVFTUT EJFT RVJOT DBOEJEBUT WPMFO RVF TJHVJO FMT TFU USFTPST EFM QBUSJNPOJ DVMUVSBM NBUFSJBM EF #BEBMPOB "RVFTUB FMFDDJØ RVF FT GB DPN B QSFMVEJ EF MB $BQJUBM EF MB $VM UVSB $BUBMBOB #BEBMPOB KB DPNQUB BNC MFT DBOEJEBUVSFT EFM .POFTUJS EF 4BOU +FSPOJ EF MB .VSUSB FM 1PCMBU *CÒSJD EFM 5VSØ E FO #PTDË MB EFTUJMtMFSJB EF M "OÓT EFM .POP FM GPOT SPNË EF MB DPMtMFDDJØ EFM .VTFV FM 5FB USF ;PSSJMMB MB 3BNCMB FM 1POU EFM 1FUSPMJ P M &TDPSYBEPS FOUSF E BMUSFT FTQBJT IJTUÛSJDT

EFMT SFJT E "SBHØ $PJODJEJOU BNC FM TFV NPNFOU EF NËYJN FTQMFOEPS FMT 3FJT $BUÛMJDT IJ WBO SFCSF $SJTUÛGPM $PMPN EFTQSÏT EFM TFV QSJNFS WJBUHF B "NÒSJDB FM

6OB RVJO[FOB EF DBOEJEBUVSFT "SB QFS BSB VOB RVJO[FOB EF DBOEJEBUVSFT GPSNFO QBSU EFM MMJTUBU QFS B DPOWFSUJS TF FO USF TPST EFM QBUSJNPOJ HSËDJFT B MFT QSPQPTUFT RVF IBO BQPSUBU EFTFOFT EF DJVUBEBOT "MHVOFT EF MFT DBOEJEBUVSFT RVF T IBO USJBU GJOT BM NPNFOU TØO MFT TFHàFOUT

(FHBOUT EF MB DJVUBU "OBTUBTJ J .BSJB &T USBDUB EFMT HFHBOUT NÏT FN CMFNËUJDT EF MB DJVUBU J VOT EFMT NÏT BOUJDT EFM UFSSJUPSJ DBUBMË KB RVF WBO TFS DPOTUSVÕUT M BOZ HSËDJFT B MFT BQPSUBDJPOT FDPOÛNJRVFT SFDBQUBEFT QFS MB $POGSBSJB EF 4BOU "OBTUBTJ

4BOU +FSPOJ EF MB .VSUSB &M NPOFTUJS WB TFS GVOEBU M BOZ QFM NFSDBEFS CBSDFMPOÓ #FSUSBO /JDPMBV RVBO WB USBT MMBEBS IJ MB DPNVOJUBU EF NPOKPT EF 4BOU 1FSF EF 3JCFT USFT BOZT BCBOT 7B HBVEJS EF MB QSPUFDDJØ

DFWXDOLWDW

&MT CBEBMPOJOT QPEFO USJBS FMT USFTPST EFM QBUSJNPOJ MPDBM

1BSD EF $B M "SOÞT 6O BMUSF EFMT DBOEJEBUT ÏT FM 1BSD EF $B M "SOÞT MB [POB WFSEB NÏT QSFVBEB EFM NVOJ DJQJ $SFBU M BOZ QFS &WB SJTU "SOÞT VO EFMT CBORVFST CPSTBSJT NÏT JNQPSUBOUT EF MB DJVUBU DPNUBM 6OB EF MFT QBSUT NÏT EFTUBDBEFT EFM QBSD EF $B M "SOÞT ÏT MB DBTB QSJODJQBM J UBNCÏ M FTQBJ SPNËOUJD

%FTUJMtMFSJB "OÓT EFM .POP -B QPQVMBS EFTUJMtMFSJB WB TFS GVOEBEB QFS +PTFQ #PTDI FM &M QSJNFS FEJGJDJ WB TFS DPOTUSVÕU FM J KB JODPSQPSBWB FO FMT WJUSBMMT FM GBNØT FNCMFNB EFM NJDP 1FM RVF GB B M PCSB NPEFSOJTUB EF MB GËCSJDB WB TFS QSPKFDUBEB QFS +PBO "NJHØ #BSSJHB FOUSF J

-B 3BNCMB -B 3BNCMB ÏT TFOT EVCUF VO EFMT FTQBJT VSCBOT NÏT QPQV MBST EF MB DJVUBU 7B TFS VSCBOJU [BU FM TFHPOT QSPKFDUF EF 7JMMBS -P[BOP /PNÏT FT QPU WPUBS B USBWÏT E JOUFSOFU -B WPUBDJØ FT GB FYDMVTJWBNFOU EFT EFM 'PSNVMBSJ EF 7PUBDJØ RVF IJ IB B MB QËHJOB XFC XXX DDD DBU m OT FM EF OPWFNCSF B MFT EF MB UBSEB -FT QFSTP OFT JOUFSFTTBEFT OPNÏT QPEFO WPUBS VOB WFHBEB -B WPUBDJØ FT DPNQMFUBNFOU HSBUVÕUB J IJ QPU QBSUJDJQBS RVBMTFWPM DJVUBEË TJHVJ P OP EF #BEBMPOB &M EJB EF EFTFNCSF FT EPOBSBO B DPOÒJYFS QÞCMJDBNFOU FMT JOESFUT EF MB DJVUBU RVF QBTTBSBO B TFS FMT USFTPST EFM QBUSJNPOJ DVMUV SBM NBUFSJBM EF #BEBMPOB < > XXX DDD DBU

&M 1POU EFM 1FUSPMJ 0CFSU BM QÞCMJD FM QBTTBU EF KVOZ FT USBDUB E VO FRVJQBNFOU E ÞT DJFOUÓm D QFSÛ UBNCÏ TPDJBM EFM RVF FO QPEFO HBVEJS UPUT FMT CBEBMPOJOT 6O QBTTFJH EF NFUSFT EF MPOHJUVE RVF T FOEJOTB BM NBS J RVF PGFSFJY VOB OPWB WJTJØ EF #BEBMPOB

&MT BDUFT EF MB $BQJUBM EF MB $VMUVSB $BUBMBOB DPNFOÎBSBO Pm DJBMNFOU EVSBOU MB TFHPOB RVJO[FOB EF HFOFS #BEBMPOB WJVSË J HBVEJSË EVSBOU FM QSPQFS BOZ E VO HSBO OPNCSF E BDUFT QFS DFMFCSBS MB TFWB DBQJUBMJUBU DVMUVSBM DBUBMBOB &MT BDUFT Pm DJBMT DPNFOÎBSBO EVSBOU MB TFHPOB RVJO[FOB EFM NFT EF HFOFS UPU BQVOUB FM EJT TBCUF EF HFOFS B MB UBS EB BNC VO HSBO BDUF JOBV 727 %DGDORQD

%&OUSBEB JOEE

HVSBM UBOU JOTUJUVDJPOBM DPN QPQVMBS RVF UJOESË MMPD B MB 7JB "VHVTUB %F NPNFOU T IB DPOFHVU RVF M BDUF JO BVHVSBM TFSË NPMU WJTVBM J FTQFDUBDVMBS J DPNQUBSË BNC MB DPMtMBCPSBDJØ E VO HSBO OPNCSF E FOUJUBUT CB EBMPOJOFT -B GBÎBOB EFM .VTFV TFS WJSË QFS GFS IJ

QSPKFDDJPOT % BMUSB CBOEB MB DBWBMDBEB EF 3FJT EFM UBNCÏ FTUBSË EFEJDB EB B MB $BQJUBM EF MB $VMUVSB $BUBMBOB QFS PCSJS CPDB EFMT BDUFT QSPHSBNBUT %V SBOU MFT QSPQFSFT TFUNBOFT M "KVOUBNFOU J MFT FOUJUBUT EF MB DJVUBU BDBCBSBO EF QFSm MBS FM QSPHSBNB E BDUFT

DFWXDOLWDW

DFWXDOLWDW

$BSMFT $BSWBKBM SFEBDDJP!FMUPUEJHJUBM DPN

$SFBEB VOB QMBUBGPSNB BM .BT 3BN FO DPOUSB E VO IJQFSNFSDBU

t &MT WFÕOT IBO QFOKBU QBODBSUFT FO DPOUSB M IJQFSNFSDBU &M 505

.BT 3BN t &MT WFÕOT EF MB VSCBOJU[BDJØ EFM .BT 3BN IBO DSFBU VOB QMBUBGPSNB QFS QSPUFTUBS DPOUSB MB QPTTJCMF JOTUBMtMBDJØ E VO IJQFSNFSDBU .FSDBEPOB FO VOT UFSSFOZT RVF BSB QFS BSB TØO QSPQJF UBUT EF MB 1FOZB -B QMBUBGPSNB QFS MB DPOTFS WBDJØ EFM .BT 3BN BHMVUJOB FMT WFÕOT RVF T PQPTFO B MB DPOTUSVDDJØ E BRVFTU FRVJ QBNFOU DPNFSDJBM J IBO DP NFOÎBU VOB DBNQBOZB EF SFDPMMJEB EF TJHOBUVSFT &MT WFÕOT IBO BSHVNFOUBU RVF FM

TPSPMM J FM USËOTJU RVF DPNQPS UB VO DFOUSF DPNFSDJBM DPN BRVFTU BMUFSBSË MB USBORVJMtMJUBU EF MB [POB -B QMBUBGPSNB UBNCÏ IB EF OVODJBU RVF FMT UFSSFOZT PO FT QSFUÏO DPOTUSVJS TØO EF UJUVMBSJUBU QÞCMJDB 1FM GFU RVF FM TÛM PO T VCJDBSJB FM TVQFS NFSDBU ÏT QÞCMJD FMT WFÕOT FYQMJRVFO RVF BDDFQUBSJFO VO FRVJQBNFOU EFM RVÒ FO QPHVFTTJO HBVEJS UPUT FMT CBEBMPOJOT DPN VO $FOUSF E "UFODJØ 1SJNËSJB VOB TBMB E FYQPTJDJPOT P VOB FTDPMB EF

NÞTJDB %FT EF MB QMBUBGPSNB QFS MB DPOTFSWBDJØ EFM .BT 3BN T BTTFHVSB RVF FO DBT RVF TJHVJ OFDFTTBSJ FTUBO EJTQPTBUT B DPOUJOVBS BNC MFT TFWFT SFJWJOEJDBDJPOT QFS MB WJB KVEJDJBM UBM J DPN IBO GFU FMT WFÕOT EF $BOZFU BNC MB QPTTJCMF DPOTUSVDDJØ E VOB FTDPMB EF M 0QVT BMT UFSSFOZT EF $BO .PSB "RVFTUT UF SSFOZT SFDPSEFN UBNCÏ TPO QSPQJFUBUT EFM $MVC +PWFOUVU #BEBMPOB

&MT .PTTPT EFTBSUJDVMFO VOB YBSYB RVF JOUSPEVÕB TVCTUËODJFT QFS EPQBS TF

&MT WFÕOT EF 1FQ 7FOUVSB UPSOFO B EFNBOBS VO MPDBM QSPQJ

&MT .PTTPT E &TRVBESB WBO EFTBSUJDVMBS VOB YBSYB RVF FT EFEJDBWB B JOUSPEVJS TVCTUËODJFT QFS EPQBS TF QSPDFEFOUT EF #VMHËSJB FO FM NFSDBU OFHSF EF M &TUBU QFS EFTQSÏT DPNFSDJBMJU [BS MFT FO EJWFSTPT FRVJQBNFOUT FTQPSUJVT -B JOWFTUJHBDJØ WB QFSNFUSF JOUFSWFOJS EP TJT EF NFEJDBNFOUT GBMTJmDBUT WBMPSBUT FO FVSPT &MT .PTTPT E &TRVBESB WBO EFUFOJS WVJU QFSTPOFT J WBO EVS B UFSNF TFU FTDPSDPMMT B EPNJDJMJT EPT E FMMT B #BEBMPOB

- "TTPDJBDJØ EF WFÕOT EF 1FQ 7FOUVSB *MMB 'SBEFSB IB UPS OBU B SFDMBNBS VO MPDBM PO QPEFS SFVOJS TF -B QBTTBEB TFUNBOB WB DFMFCSBS VOB BT TFNCMFB BM NJH EFM DBSSFS QFSRVÒ OP EJTQPTFO EF MPDBM QSPQJ - FOUJUBU IB UPSOBU B EFOVODJBS RVF M "KVOUBNFOU EF #BEBMPOB OP FTDPMUB MFT TFWFT EFNBOEFT J DPOTJEF SFO RVF MB TFWB TJUVBDJØ ÏT JOKVTUB - "TTPDJBDJØ EF 7FÕOT 1FQ 7FOUVSB *MMB 'SBEFSB UÏ BDUVBMNFOU TPDJT

< > EFGFOTBNBTSBN DPN

7DPEÉ ÉV QRWÍFLD 1SFO QPTTFTTJØ FM OPV SFDUPS EF 4BOUB .BSJB "RVFTU EJVNFOHF B MFT EFM NJHEJB UJOESË MMPD MB QSFTB EF QPTTFTTJØ EFM OPV 3FDUPS EF MB 1BSSÛRVJB EF 4BOUB .BSJB EF #BEBMPOB 'JOBMNFOU EFTQSÒT EF TPOBS VO BMUSF OPN TFSË OPNFOBU .PTTÒO +PBRVJN 7JEBM J "SUÏT BDPNQBOZBU EFM EJBDB .PTTÒO *HOBTJ 5PSSFOU RVF DPMtMBCPSBSË FO FM TFV NJOJTUFSJ -B QSFTB EF QPT TFTTJØ RVF DPNFOÎBSË B MFT EFM NJHEJB MB QSFTJEJSË FM DBSEFOBM -MVÓT .BSUÓOF[ 4JT UBDI FOUSF BMUSFT BVUPSJUBUT FDMFTJËTUJRVFT

"DUVBMJUBU JOEE

727 %DGDORQD

0$56#3& %& -0$63" 7*4$0&-«45*$0 $"/"1² 10-*1*&-

Ã¥

9 å 9 å

9

Ã¥

30%6 4 1

$504 5

04 0% /

"º04 ("3"/5*"

4530 6&

9 å 9 å

$"/"1² ."%&3"

$&3&;0 0 8&/(6&

Ã¥

-«5&9 "35*$6-"%0

7*4$0&-«45*$0 9 å 7*4$0&-«45*$0 9 å

Ã¥

&-²$53*$04 7*4$0&-«45*$04

Ã¥

$ 3PTFMMÃ&#x2DC;O #"%"-0/"

*7" : 53"/41035&4 */$-6*%04 "35¶$6-04 %& %&4$"/40 3PTTFMMP /PV JOEE

1*&;"4 %& &416." $035"%"4 " .&%*%"

DFWXDOLWDW

DFWXDOLWDW

5SPCB UPUFT MFT OPUÓDJFT B XXX FMUPUEJHJUBM DPN

#BEBMPOB EJTQPTBSË E VOB OPWB FTDPMB E PmDJT EF MB DPOTUSVDDJØ FM QSPQFS FTUJV .POUJHBMË t - FTUSVDUVSB J MFT GBÎBOFT EFM OPV FEJGJDJ EF M *OTUJUVU (BVEÓ EF MB DPOTUSVD DJØ RVF T FTUBO DPOTUSVJOU BM CBSSJ EF .POUJHBMË KB FTUBO HBJSFCÏ FOMMFTUJEFT -FT QSF WJTJPOT BQVOUFO RVF FM QSPQFS NFT EF KVMJPM FT QPTJ FO NBSYB FM OPV FEJGJDJ RVF QFSNFUSË EPCMBS FM OPNCSF E BMVNOFT 5PU J BJYÛ MB DSJTJ FDPOÛNJDB RVF BGFDUB QSJODJQBMNFOU BM TFDUPS EF MB DPOTUSVDDJØ IB

GFU RVF FT SFEVFJYJO FMT DVS TPT RVF PGFSFJY M *OTUJUVU (BV EÓ "CBOT RVF T FOMMFTUFJYJO MFT PCSFT EFmOJUJWBNFOU FT GBSË ÞT EFM TPUFSSBOJ RVF FT GBSË TFS WJS DPN B ËSFB EF USFCBMM DPCFSU &M OPV FEJmDJ EF M *OTUJUVU (BVEÓ EF MB $POT USVDDJØ QFSNFUSË BNQMJBS FM OPNCSF E BMVNOFT J EPOBS SFTQPTUB B MFT MMBSHVFT DVFT EF KPWFT RVF WPMFO GPSNBS TF FO FM TFDUPS EF MB DPOTUSVDDJØ

&M QFSmM E FEBU EF MFT QFSTP OFT RVF PQUFO QFS MB GPSNBDJØ FO FM TFDUPS EF MB DPOTUSVDDJØ WB EFMT BMT BOZT %FT EF M JOTUJUVU IBO FYQMJDBU RVF FMT DVSTPT NÏT EFNBOEBUT TØO FMT EF NBRVJOËSJB "NC MB DSJTJ T IBO SFEVÕU FMT DVSTPT EF B EVSBOU FM EBSSFS BOZ J BMIPSB T IB JODSFNFO UBU FM OPNCSF EF QFSTPOFT RVF T BQVOUFO B MB CPSTB EF USFCBMM

µYJU EF MB DBNQBOZB EF SFDPMMJEB E BMJNFOUT EF M FOUJUBU EFM (PSH .BS (PSH t -B DPNBSDB IB QBSUJ DJQBU J BNC GPSÎB ÒYJU BNC MB HSBO SFDPMMJEB E BMJNFOUT PSHBOJU[BEB QFS MB 'VOEBDJØ EFMT #BODT EFMT "MJNFOUT " #BEBMPOB M FOUJUBU 4PDJBM "NJDT EFM (PSH IBO SFDPMMJU EVSBOU FMT EBSSFST EJFT VO HSBO OPNCSF E BMJNFOUT &M QSFTJEFOU EF M FOUJUBU (V[NBO 3PHFS IB WPMHVU BHSBJS B UP UIPN MFT TFWFT BQPSUBDJPOT J BM OPTUSF TFUNBOBSJ QFS MB EJ GVTJØ EF MB DBNQBOZB 3FDPS EFN RVF M FOUJUBU CBEBMPOJOB IB EPOBU EF NFOKBS B HBJSFCÏ QFSTPOFT EF #BEBMPOB EVSBOU FM EBSSFS USJNFTUSF

t -PDBM EF M FOUJUBU (PSH .BS BM DBSSFS 1POFOU

7DPEÉ ÉV QRWÍFLD &M DBSSFS (VJGSÏ T PCSF BM USËOTJU J BSB RVFEB UBODBU FM 1SPHSÏT

&DPMVEJD PSHBOJU[B VOB NBSYB DPOUSB FM DBOWJ DMJNËUJD B #BEBMPOB

%FTQSÒT E VO BOZ E PCSFT FM DBSSFS (VJGSÏ T IB UPSOBU B PCSJS BM USËOTJU FOUSF FMT DBSSFST EF 1POFOU J "OUPOJ #PSJ B DBVTB EF MFT PCSFT EF SFVSCBOJU[BDJØ EFM CBSSJ EFM (PSH "SB QFSÛ .BSJOB #BEBMPOB M FOT RVF FYFDVUB MFT PCSFT IB UBMMBU BM USËOTJU FM DBSSFS 1SPHSÏT QFS DPOUJOVBS FMT USFCBMMT &O BRVFTU USBN NFOUSF EVSJO MFT PCSFT FM DBSSFS (VJGSÏ EJTQPTB EF EPT TFOUJUT EF DJSDVMBDJØ

- FOUJUBU WPM RVF DBEB BKVOUBNFOU EFMT NVOJDJQJT QFMT RVBMT FT QBTTJ BNC MB NBSYB TJHOJO VO EPDVNFOU RVF QSPNFUJ BDDJPOT QFS MMVJUBS DPOUSB FM DBOWJ DMJNË UJD - PSHBOJU[BDJØ E FDPMPHJB MÞ EJDB &DPMVEJD SFBMJU[BSË BRVFTU EJTTBCUF VOB .BSYB BNC WFIJDMFT FMÒDUSJDT E FNJTTJØ [FSP "RVFTUB TPSUJSË EF 4BCBEFMM B MFT IPSFT J DSFVBSË #BEBMPOB J 4BOU "ESJË J mOBMJU[BSË EBWBOU EFM $FOUSF E "SU 4BOUB .ÛOJDB #BSDFMPOB B MFT IPSFT

"DUVBMJUBU JOEE

5JBOB QSFQBSB MB TFUNBOB EFM CPMFU -B SFHJEPSJB EF QSPNPDJØ FDPOÛ NJDB EF M "KVOUBNFOU EF 5JBOB FO DPMtMBCPSBDJØ BNC M "$*45 J EJWFSTPT SFTUBVSBOUT UJBOFODT IBO QPTBU FO NBSYB VOB DBN QBOZB QFS QPUFODJBS FM DPOTVN J UPUB MB HBTUSPOPNJB E VO GSVJU UÓQJD EF MB UBSEPS DPN ÏT FM CPMFU 1FS BJYÛ T IB QSFQBSBU UPU VO TF HVJU E BDUFT RVF DPNFOÎBSBO FM QSPQFS EF OPWFNCSF " QBSU EF QPEFS UBTUBS NFOÞT EF CPMFUT RVF T FMBCPSBSBO B EJGFSFOUT SFT UBVSBOUT EF MB WJMB UBNCÏ T IBO QSFQBSBU EJWFSTFT BDUJWJUBUT

727 %DGDORQD

"VHNFOUFO FM OPNCSF EF SPCBUPSJT J GVSUT BNC GPSÎB B #BEBMPOB $FOUSF t 4FHPOT EBEFT EF MB (VËSEJB 6SCBOB J EFMT .PTTPT E &TRVBESB EVSBOU FMT EBSSFST NFTPT IBO BVHNFOUBU EF GPSNB JNQPSUBOU FM OPNCSF EF SPCBUPSJT J GVSUT BNC GPSÎB B #BEBMPOB &M QSJNFS UJOFOU E BMDBMEF EF M "KVOUBNFOU 'F SSBO 'BMDØ IB GFU VOB DSJEB B MB DJVUBEBOJB QFSRVÒ QSFO HVJO UPUFT MFT NFTVSFT QPT TJCMFT QFS FWJUBS FMT SPCBUPSJT 'BMDØ UBNCÏ IB EFNBOBU MB DPMtMBCPSBDJØ EF UPUIPN BNC MB QPMJDJB J IB BTTFOZBMBU RVF T IBO BVHNFOUBU FM OPNCSF E BHFOUT QPMJDJBMT RVF QBTTF HFO EF QBJTË QFMT DBSSFST EF MB DJVUBU

$PQ QPMJDJBM BM CBSSJ EFM $FOUSF +VTUBNFOU FM QBTTBU EJWFOESFT B MB NBUJOBEB BHFOUT EF QBJTË EF MB (VËSEJB 6SCBOB WBO JN QFEJS VO SPCBUPSJ BNC GPSÎB FO

DFWXDOLWDW

$BSMFT $BSWBKBM SFEBDDJP!FMUPUEJHJUBM DPN

MFT RVBUSF QFSTPOFT JNQMJDB EFT WBO JOJDJBS VOB GVHJEB B QFV QFS EJGFSFOUT DBSSFST EF M FOUPSO *NNFEJBUBNFOU FMT BHFOUT WBO QFSTFHVJS BRVFTUFT QFSTPOFT EFNBOBOU TVQPSU E BMUSFT FGFDUJVT EF MB QPMJDJB MPDBM %F MFT RVBUSF QFSTPOFT JNQMJDBEFT FO FMT GFUT J EFTQSÏT E VOB QFSTFDVDJØ B QFV QFS EJWFSTPT DBSSFST EF MB [POB USFT WBO QPEFS TFS EFUJOHVEFT DPN B QSFTVNQUFT BVUPST E VO JOUFOU EF SPCBUPSJ BNC GPSÎB -FT QFSTPOFT EFUJOHVEFT TØO EF OBDJPOBMJUBU SPNBOFTB EF J BOZT &M NFOPS RVF T IBWJB FTDBQBU E VO DFOUSF EF NFOPST WB QBTTBS B EJTQPTJDJØ EF MB 'JTDBMJB EF .FOPST RVF FM QPESË QPTBS FO DVTUÛEJB EFM DFOUSF NFOUSF RVF MFT BMUSFT EVFT QFSTPOFT WBO TFS EFUJO HVEFT NFOUSF FT GPSNBMJU[BWB MB EFOÞODJB KVEJDJBM

t &M QSJNFS UJOFOU E BMDBMEF IB FYQMJ DBU RVF FMT SPCBUPSJT IBO BVHNFOUBU B #BEBMPOB &M 505

VO CBS EFM DBSSFS EF $PMPN -B JOUFSWFODJØ QPMJDJBM FT WB JOJDJBS RVBO VOB QBUSVMMB RVF BOBWB FO VO WFIJDMF TFOTF EJTUJOUJVT WB EFUFDUBS VO JOEJWJEV BM DBSSFS FO BDUJUVE TPTQJUPTB 5PU TFHVJU FMT BHFOUT WBO DPNQSPWBS RVF FT USPCBWB WJHJMBOU NFOUSF USFT QFSTPOFT NÏT JOUFOUBWFO BD DFEJS BM CBS EFTQSÏT E IBWFS OF UBMMBU MB QFSTJBOB &O BEPOBS TF RVF IBWJFO FTUBU EFTDPCFSUT

1SJNFS BOJWFSTBSJ EFM $BTBM EF 1BSFT J .BSFT EF #BEBMPOB $PMM J 1VKPM t %VSBOU BRVFTU QSJNFS BOZ EF WJEB EFM $BTBM IJ IB IBHVU VO UPUBM EF JOTDSJQDJPOT RVF TVQPTB NÏT EF VTPT BNC VO UPUBM EF IPSFT -FT GBNÓMJFT RVF NÏT IBO

VUJMJU[BU FM TFSWFJ IBO FTUBU MFT GBNÓMJFT CJQBSFOUBMT J FMT OFOT RVF NÏT IBO BTTJTUJU BM DFOUSF WFOJFO EFM CBSSJ EFM $FOUSF EFM 1SPHSÏT EF #V GBMË J EF 4BOU $SJTU J UFOJFO FOUSF J NFTPT 3FDPS

EFN RVF FM $BTBM EF .BSFT J 1BSFT WB EJSJHJU CËTJDBNFOU B GBNÓMJFT NPOPQBSFOUBMT P GBNÓMJFT RVF UFOFO EJmDVMUBUT E PSHBOJU[BDJØ FOUSF FMT TFVT IPSBSJT MBCPSBMT J FMT IPSBSJT FTDPMBST

7DPEÉ ÉV QRWÍFLD 5JBOB BQPTUB QFS VOB BMJNFOUBDJØ TBOB - "KVOUBNFOU EF 5JBOB FO DPMtMBCPSBDJØ BNC M "TTPDJBDJØ 9JDÛSJB FOUJUBU FTQFDJBMJU[B EB FO BMJNFOUBDJØ FDPMÛHJDB GPNFOUBSË FM DPOTVN EF QSP EVDUFT MPDBMT J FDPMÛHJDT FO FM NVOJDJQJ -B DBNQBOZB DP NFOÎBSË FM NFT EF OPWFNCSF J FTUBSË FTQFDJBMNFOU FOGPDBEB B NJMMPSBS M BMJNFOUBDJØ EFMT FTDPMBST -B DBNQBOZB UBN CÏ UÏ MB JOUFODJØ E JOUSPEVJS QSPEVDUFT FDPMÛHJDT MPDBMT BM DËUFSJOH EF M FTDPMB QÞCMJDB -PMB "OHMBEB 727 %DGDORQD

"DUVBMJUBU JOEE

4J IBT FTUBU UFTUJNPOJ E VO GFU

1SFTFOUBDJØ EFM %7% EFM .BQB EFM 1BUSJNPOJ EF .POUHBU

4J BM UFV CBSSJ P DBSSFS IJ QBTTB BMHVOB DPTB 4J U IBO FYQMJDBU RVF EJVFO RVF QPUTFS IB QBTTBU

"RVFTU EJWFOESFT UJOESË MMPD MB QSFTFOUBDJØ EFM %7% EFM .BQB EFM 1BUSJNPOJ EF .POUHBU &T USBDUB E VO NBQB EFM QBUSJNPOJ JNNPCMF NPCMF EPDVNFOUBM JNNBUFSJBM J OBUVSBM EF .POUHBU &M %7% QSFUÏO TFS VOB FJOB QFS B MB DPOTFSWBDJØ J MB EJGVTJØ EF MFT BSSFMT J QFS QSFOESF EFDJTJPOT VSCBOÓTUJRVFT -B QSFTFOUBDJØ BOJSË B DËSSFD EF M BMDBMEF +PSEJ 3ËNJB J EF .BSUB -MPSFU FO DBSSFHBEB EFM USFCBMM EF DBNQ SFBMJU[BU QFS MB %JQVUBDJØ

"M 505 IP WPMFN TBCFS IP "M 505 FMBCPSFN MB JOGPSNBDJØ RVF U JOUFSFTTB MB JOGPSNBDJØ NÏT QSPQFSB J TPCSFUPU MB JOGPSNBDJØ NÏT QMVSBM 4JHVFT FM OPTUSF DPSSFTQPOTBM SFEBDDJP!FMUPUEJHJUBM DPN

RSLQLÓ

DPE YHX SUÒSLD #BEBMPOB MB DJVUBU EF 1PNQFV 'BCSB 0SJPM -MBEØ CMPDT NFTWJMBXFC DBU BMCVNEFSFUBMMT PSJPMMMBEP DBU

"RVFTU NFT M "KVOUBNFOU EF #B EBMPOB IB TPMtMJDJUBU GPSNBMNFOU RVF MB OPWB FTUBDJØ EF NFUSP EF MB DJVUBU EVHVJ FM OPN EF i#BEB MPOB 1PNQFV 'BCSBw % BRVFTUB NBOFSB M FRVJQ EF HPWFSO EØOB TPSUJEB B VOB TPMtMJDJUVE DPOTFO TVBEB QFS VOB QBSU TJHOJmDBUJWB EF MB DJVUBEBOJB 4J MFT BVUPSJUBUT NFUSPQPMJUBOFT BDDFQUFO BRVFTU OPN #BEBMP OB FT QPTJDJPOBSË OBDJPOBMNFOU DPN MB DJVUBU EF 1PNQFV 'BCSB - BSRVJUFDUF EF MB MMFOHVB DBUBMBOB NPEFSOB WB WJVSF QSPQ EF BOZT B MB DJVUBU DJVUBU RVF WB FTUJNBS J RVF WB IBWFS EF EFJYBS ESBNË UJDBNFOU BNC M FOUSBEB EF MFT USPQFT GSBORVJTUFT 5PUB DPNVOJUBU SFJWJOEJDB MFT mHVSFT MJUFSËSJFT BS UÓTUJRVFT DJFOUÓmRVFT P QPMÓUJRVFT RVF FO QVHVJO SFGPSÎBS MB JEFOUJUBU RVF MFT GBO DPOFHVEFT GPSB EFM

UFSNF RVF MFT MMJHVFO BNC WBMPST QPTJUJVT #BEBMPOB OP UFOJB BRVFTUB mHVSB * BJYÛ RVF QPEJB SFJWJOEJDBS DPN B ADJVUBEË FM RVF ÏT TFHVSBNFOU FM DBUBMË NÏT JNQPSUBOU EFM TFHMF 99 1FS TPSU OP IFN EFJYBU FTDB QBS BRVFTU ANFUSP &M OPN E VOB FTUBDJØ UÏ VO JNQBDUF FOPSNF NJMFST EF NBQFT J HVJFT MMJHBSBO FMT OPNT EF #BEBMPOB J 'BCSB QFS TFNQSF NÏT " #BEBMPOB MJ GBMUFO UBOUT SFGFSFOUT "RVFTU MMJHBN #BEBMPOB 'BCSB FOT QPU BKVEBS NPMU )J IB NÏT DPTFT QFS GFS OBUV SBMNFOU B CBOEB E BDPOTFHVJS FM OPN EF M FTUBDJØ AUFNBUJU[BS MFT BOEBOEFT DSFBS VO JUJOFSBSJ 'BCSB JOTUJUVJS VO QSFNJ P VOB NFODJØ FMBCPSBS VOB NBMFUB QFEBHÛHJDB FUD "CBOT EF MFT WBDBODFT FM QMF WB BQSPWBS DPOT UJUVJS VOB DPNJTTJØ NVOJDJQBM QFS USBDUBS FM UFNB )J IB HBOFT EF GFS DPTFT 4FNCMB RVF IFN USPCBU VO CPO mM QFS B FTUJSBS J BWBOÎBS EF GPSNB GFSNB J BDPOTFHVJOU DPTFT QFSEVSBCMFT

"WBOÎBS TÓ OPNÏT GBMUBSJB "WBOÎBS NBMHSBU MFT WFVT E VOB QBSU EF M PQJOJØ QVCMJDBEB NÏT WF UFSBOB JOTUBMtMBEB FO FM DÛNPEF DJOJTNF J MB ACSPNFUB QSFWJTJCMF J EJSJB KB nBHSBOUNFOU EFTDPOOFD UBEB EFM CBUFD DJVUBEË 1FSÛ BWBOÎBS RVJ "WBOÎBS DPN &O FGFDUF UPU KVTU FTUFN BM QSJODJQJ EFM DBNÓ . BHSBEB QFOTBS QFSÛ RVF QPESFN DBQJUBMJU[BS BRVFTUB GFJOB RVF FTUË CFO BTTFOUBEB BM USBNBU BTTPDJBUJV J DJVUBEË "SB DBMESË USPCBS MB NBOFSB E BUFOESF M BMUSF SFDPOFJYFNFOU QFOEFOU FM EF M BMDBMEF 9JGSÏ BSB DBMESË WFVSF DPN BQSPmUFN FM GFU RVF #BEBMPOB ÏT MB DBQJUBM EF MB DVMUVSB DBUBMBOB FM y QFSÛ EF NPNFOU GFMJDJUFN OPT NPMUFT FOUJUBUT NPMUFT QFSTPOFT NPMUFT WPMVOUBUT IBO EFDJEJU BQPTUBS QFS VOB QSPQPTUB DPODSFUB J FOHSFTDB EPSB RVF EV FM OPN E VO DJVUBEË FYFNQMBS % BDPSE #BEBMPOB OP BDBCB OJ DPNFOÎB BNC 'BCSB 1FSÛ IJ UÏ VO CPO BMJBU &OT QPEÓFN QFSNFUSF JHOPSBS MP $SFD RVF OP

4FS NÈT JHVBMFT QBSB TFS NÈT MJCSFT -PSFO[P .FSDIÈO MPSFO[PNFSDIBOHPO[BMF[ CMPHTQPU DPN

-B JHVBMEBE FOUSF IPNCSF Z NVKFS QBTB QPS SFDPOPDFS RVF OVFTUSP SPM FO MB WJEB OP WB BTPDJBEP BM HÏOFSP DPO FM RVF OBDFNPT EF NBOFSB RVF MB DPOEJDJØO IPNCSF P NVKFS OP EFCF MJNJUBS OVFTUSB GPSNB EF QFOTBS OVFTUSBT DPT UVNCSFT Z NVDIP NFOPT OVFTUSPT DPNQPSUBNJFOUPT -BT QFSTPOBT BM OBDFS OP TF JO DPSQPSBO B MB WJEB BDPNQB×BEBT EF VO MJCSP EF JOTUSVDDJPOFT FO FM RVF TF MFT BTJHOB FO GVODJØO EFM HÏOFSP NBTDVMJOP P GFNFOJOP VOBT EFUFSNJOBEBT GVODJPOFT EFSFDIPT Z PCMJHBDJPOFT &T EVSBOUF FM QSPDFTP EF DSFDJ NJFOUP Z NBEVSBDJØO EPOEF FM QBQFM EF QBESFT Z FEVDBEPSFT KVOUP BM FOUPSOP TPDJBM JNQSJNFO FM DBSÈDUFS Z MB NBOFSB EF BDUVBS GSFOUF B MPT EFNÈT EF BIÓ RVF TFB UBO JNQPSUBOUF RVF EFTEF FM QSJ NFS NJOVUP TF FMJNJOFO UPEBT MBT DPOOPUBDJPOFT OFHBUJWBT MJHBEBT B MB DPOEJDJØO TFYVBM

0QJOJP JOEE

4FS NÈT JHVBMFT OPT IBDF NÈT MJCSFT F JOEFQFOEJFOUFT QFSP B MB WF[ DPOUSJCVZF B NFKPSBS MB DPOWJWFODJB BMHP EF MP RVF BEP MFDFO NVDIBT EF MBT BDUVBMFT SFMBDJPOFT GBNJMJBSFT MBCPSBMFT Z TPDJBMFT FONBSDBEBT UPEBWÓB FO MBT WJFKBT DPODFQDJPOFT RVF PUPSHBO B MB NVKFS VO SPM TFSWJDJBM Z BM IPNCSF FM SFDFQUPS EF TVT TFSWJDJPT $POUSBSJBNFOUF MB FEVDBDJØO EFCF HJSBS FO UPSOP B MB QFSTPOB Z OP TPCSF FM HÏOFSP QBSB RVF EFTEF CJFO QFRVF×PT MPT OJ×PT BQSFOEBO Z BTVNBO EFOUSP EF MB OPSNBMJEBE NÈT FMFNFOUBM RVF UBOUP MB JOUFSEFQFOEFODJB DPNP MB BVUPTVmDJFODJB TF DPOTJHVFO FO MB QSÈDUJDB EFTEF FM SFDPOP DJNJFOUP Z FM SFTQFUP IBDJB MPT EFSFDIPT EF MPT EFNÈT /BEJF FT NFKPS OJ NÈT RVF OBEJF QPS IBCFS OBDJEP IPNCSF P NVKFS &T IPSB ZB EF IBDFS UBCMB SBTB QBSB RVF OJOHVOB QFSTPOB TJFOUB OJOHVOFBEB TV FYJTUFODJB QPS FM FTUJHNB EF TV OBDJNJFOUP Z EF RVF MB FEVDBDJØO FO MB JHVBMEBE WBZB BDPNQB×BEB OP TØMP EF QSPDMBNBT TJOP UBNCJÏO EF TV DVNQMJNJFOUP SFBM FO MB QSÈDUJDB

%F MB NJTNB NBOFSB QPS TV DBQB DJEBE EF JOnVFODJB MPT NFEJPT EF DPNVOJDBDJØO FKFSDFO VO QBQFM DMBWF FO MB QSPQBHBDJØO EF MPT GVOEBNFOUPT EF MB JHVBMEBE EF NBOFSB RVF MB SFOVODJB B FTUB FYJHFODJB FO GBWPS EF MPT SÈORVJ OFT EF BVEJFODJB DPOTUJUVZF VOB EF MBT QFPSFT MBDSBT EF MB BDUVB MJEBE NPUJWP QPS FM DVBM EFCFNPT FTUBS BMFSUBT QBSB EFOVODJBS MB QSPQBHBDJØO Z FM GPNFOUP EF MB EFTJHVBMEBE FO DVBMRVJFS NFEJP EF EJGVTJØO %F JHVBM NBOFSB EFTEF FM QVOUP EF WJTUB OPSNBUJWP FM GPSUBMFDJ NJFOUP Z MB EFGFOTB EF MBT CBTFT QBSB RVF FM CJOPNJP GBNJMJB FT DVFMB SFTVMUF DMBWF FO MB USBOT NJTJØO EF MPT WBMPSFT JHVBMJUBSJPT FOUSF OJ×PT Z OJ×BT EFCFSÓBO TFS DPOTJEFSBEPT DPNP BTQFDUP CÈTJDP Z GVOEBNFOUBM FO MBT MFZFT FEVDBUJWBT 1PSRVF MB EFGFOTB EF OVFTUSPT EFSFDIPT FNQJF[B QPS FM SFTQFUP IBDJB MPT EFSFDIPT EF MPT EFNÈT OBEJF QPS IBCFS OBDJEP IPNCSF P NVKFS UJFOF EFSFDIP B JNQPOFS BM PUSP VOB EFUFSNJOBEB NBOFSB EF IBDFS P B FYJNJSTF EF TVT SFTQPOTBCJMJEBEFT

727 %DGDORQD

ĂĚĂůŽŶĂ ĞŶƚƌŽ jůƟŵŽƐ ϯ ƉŝƐŽƐ Ă ĐŽƐƚΦ

DĠŶĚĞnj EƷŹĞnj

sŝǀŝĞŶĚĂƐ ĚĞ ĐƵĂƚƌŽ ŚĂďŝƚĂĐŝŽŶĞƐ ĚŽƐ ďĂŹŽƐ ĐŽŵƉůĞƚŽƐ ĞdžĐĞůĞŶƚĞƐ ĂĐĂďĂĚŽƐ

͋/ŶĐƌĞŝďůĞ ĐŽŵƉĂƌĂŶĚŽ ƉƌĞĐŝŽͬĐĂůŝĚĂĚͬƵďŝĐĂĐŝſŶ͊

ZĞĂůŝŵĂƌ͘ĞƐ ϲϳϴ ϳϭ ϰϰ ϰϰ ͻ ϵϯ ϰϱϮ ϳϱ ϭϱ 3FBMJNBS JOEE

DFWXDOLWDW

3ROÍWLFD - "KVOUBNFOU DPOHFMB FMT JNQPTUPT EF M BOZ J FM 11 EFNBOB RVF T BCBJYJO # B E B M P O B t & M S F H J E P S E )JTFOEB J 3FDVSTPT *OUFSOT EF M "KVOUBNFOU EF #BEBMPOB 'SBODFTD 4FSSBOP IB BOVODJBU FO VOB TFTTJØ E "VEJÒODJB 1Þ CMJDB RVF EF DBSB B M BOZ FT DPOHFMBSBO FMT JNQPTUPT UBYFT J QSFVT QÞCMJDT - PCKFDUJV EFM HPWFSO NVOJDJQBM ÏT RVF FMT QSFTTVQPTUPT EFM QSPQFS BOZ iTJHVJO VOT JOTUSVNFOU EF MMVJUB DPOUSB MB DSJTJ B MB WFHBEB RVF NBOUJOHVJO MB EFTQFTB TPDJBM J MB JOWFSTJØ B MB DJVUBUw 4FSSBOP WB FYQMJDBS RVF M *NQPTU EF #ÏOT *NNPCMFT M *#* DPOUJOVBSË TFOU EFM QFSÛ FT GBSBO CP OJGJDBDJPOT QFS B MFT GBNÓMJFT OPNCSPTFT J TVCWFODJPOT B MFT QFSTPOFT FO TJUVBDJØ E BUVS 1FM RVF GB B M *NQPTU TPCSF "DUJWJUBUT &DPOÛNJRVFT *"& RVF BGFDUB VO NJMFS E FNQSFTFT EF MB DJV UBU UBNCÏ UJOESBO EFTDPNQUFT FO FM DBT EF MFT TPDJFUBUT RVF EFNPTUSJO RVF IBO QBUJU QÒSEVFT FDPOÛNJRVFT -FT PSEFOBODFT

t &M SFHJEPS E )JTFOEB 'SBODFTD 4FSSBOP EVSBOU MB QSFTFOUBDJØ EF MFT PSEF OBODFT mTDBMT MB TFUNBOB QBTTBEB

FT QPESJFO BQSPWBS EFmOJUJWB NFOU BM NFT EF EFTFNCSF EFT QSÏT EFM QFSÓPEF E BMtMFHBDJPOT &M QSJODJQBM QBSUJU B M PQPTJDJØ FM 11 KB IB BOVODJBU RVF IJ WPUBSË FO DPOUSB &M QSFTJEFOU EFMT QP QVMBST 9BWJFS (BSDÓB "MCJPM IB SFDMBNBU VOB SFCBJYB E BMHVOFT EF MFT UBSJGFT BSHVNFOUBOU RVF

M *1$ FTUË CBJYBOU J EFNBOB RVF FM HPWFSO EF #BEBMPOB TFHVFJYJ M FYFNQMF EF 4BOUB $PMPNB EF (SBNFOFU 1FS MB TFWB CBO EB $BSMFT 4BHVÏT QSFTJEFOU E *$7 &6J" FTUË E BDPSE BNC MB DPOHFMBDJØ EFMT QSFVT QFSÛ KB IB BWBOÎBU RVF MB TFWB GPSNBDJØ QSFTFOUBSË BMtMFHBDJPOT

- BMDBMEF EFNBOBSË FYQMJDBDJPOT TPCSF FM QSFTVNQUF FTDËOEPM EF 1SPNVTJD #BEBMPOB t - BMDBMEF +PSEJ 4F SSB FT SFVOJSË B mOBMT EF NFT BNC FM 1BUSPOBU EF MB .ÞTJDB QFS RVÒ MJ EPOJ FYQMJDBDJPOT TPCSF MFT QSFTVNQUFT JSSFHV MBSJUBUT FO FM TJ EF MB HFTUJØ EF 1SPNVTJD "NJDT EFM +B[[ EF MB RVBM &OSJRVF 4PSJBOP O ÏT FM USFTPSFS 3FDPSEFN RVF TFHPOT WB QVCMJDBS FM EJBSJ &M .VOEP 4PSJBOP RVF ÏT FM EJSFDUPS EF M &TDPMB EF .ÞTJDB WB EFTWJBS QSFTVNQUBNFOU FVSPT FO BRVFTUB FOUJUBU RVF QPSUBWB BOZT TFOTF DBQ BDUJWJUBU 4FSSB QFSÛ IB WPMHVU BDMBSJS FO EFDMB SBDJPOT B 5FMFWJTJØ #BEBMPOB RVF FO DBQ DBT FT USBDUB E VO DBT TJNJMBS BM EF 'ÒMJY .JMMFU BM 1BMBV EF MB .ÞTJDB "RVFTUFT EFDMBSBDJPOT MFT WB GFS M BMDBMEF EFTQSÏT EF M BDUF E IPNFOBUHF RVF WB SFUSF M "KVOUBNFOU BM

1PMÓUJDB JOEE

t 0GSFOB nPSBM BM QSFTJEFOU $PNQBOZT BGVTFMMBU GB BOZT QFM SÒHJN GSBORVJTUB

J RVF EFNBOJ SFTQPOTBCJMJUBUT TJ mOBMNFOU T IB QSPEVÕU VO DBT EF DPSSVQDJØ %FT E *$7 &6J" T IB EFNBOBU VOB SFVOJØ E VSHÒODJB EFM 1BUSPOBU EF MB .ÞTJDB QFS BDMBSJS MB TJUVBDJØ

1SFTJEFOU -MVÓT $PNQBOZT BM NPOÛMJU EF M BWJOHVEB RVF QPSUB FM TFV OPN %FT EF M PQPTJDJØ FM QSFTJEFOU EFM 11 B #BEBMPOB 9BWJFS (BSDÓB "MCJPM IB FYJHJU RVF M BMDBMEF EPOJ FYQMJDBDJPOT

727 %DGDORQD

6OJØ OP FTUË E BDPSE BNC FM NPEFM EF M "KVOUBNFOU FO NBUÒSJB E JNNJHSBDJØ #BEBMPOB t &M EJSJHFOU E 6OJØ %FNPDSËUJDB EF $BUBMVOZB B #B EBMPOB +PSEJ 4VCJSBOB IB NPT USBU QÞCMJDBNFOU MFT TFWFT SFTFS WFT BNC FM NPEFM EFM HPWFSO MPDBM QFM RVF GB B MB JNNJHSBDJØ i.PMUT DPNQBOZT NFVT TBCFO EF MFT NFWFT EJGFSÒODJFT BNC FM NPEFM RVF T FTUË USFCBMMBOU BWVJ B MB DJVUBU &M NFV QBSFS J FM E 6OJØ B #BEBMPOB ÏT RVF FOT DBM VO EFCBU B GPOT QBSMBU FOUSF UPUT FMT QBSUJUT QPMÓUJDT BNC SFQSF

TFOUBDJØ B M "KVOUBNFOU TPCSF FM NPEFMw 3FDPSEFN RVF 6OJØ GPSNB QBSU EFM HPWFSO NVOJDJQBM EF MB DJVUBU J RVF ÏT KVTUBNFOU FM DPOWFSHFOU +PTFQ 1FSB FM SFTQPOTBCMF EF MB SFHJEPSJB EF $POWJWÒODJB J $JVUBEBOJB RVF T FODBSSFHB EF MFT RàFTUJPOT SFMBDJPOBEFT BNC MB *NNJHSB DJØ 4FHPOT 4VCJSBOB iM BMDBMEF IBVSJB EF MJEFSBS VO HSBO QBDUF FOUSF UPUT FMT QBSUJUT QPMÓUJDT EF MB DJVUBU QFS UBM E FWJUBS RVF T VUJMJU[J

DFWXDOLWDW

$BSMFT 5PSOFSP SFEBDDJP!FMUPUEJHJUBM DPN

5SPCB UPUFT MFT OPUÓDJFT B XXX FMUPUEJHJUBM DPN

FO DMBV QBSUJEJTUB MB HFOU EF GPSB RVF WJV J USFCBMMB B #BEBMPOBw 1FS BM QSFTJEFOU E 6OJØ MB DJVUBU IB E PCSJS VO EFCBU RVF WBHJ NÏT FOMMË EF MFT DPNQFUÒODJFT E VOB SFHJEPSJB J NÏT FOMMË EF MB QPMÒNJDB TPCSF TJ DBM P OP PCSJS VO PSBUPSJ B "SUJHBT &O BRVFTU TFOUJU 4VCJSBOB DSFV RVF FM HPWFSO OP IBVSJB EF EFTDBSUBS MB QPTTJCJMJUBU E PCSJS B MB DJVUBU iVOB TPMB NFTRVJUB HSBO J CFO DPNVOJDBEBw

&M 'ÛSVN EF .VOJDJQJT JOJDJB VOB OPWB FUBQB BNC FM M PCKFDUJV E JNQVMTBS FM #BSDFMPOÒT /PSE 4BOU "ESJË t &M 'ÛSVN EF .VOJ DJQJT IB JOJDJBU VOB OPWB FUBQB BNC MB SFEBDDJØ E VO OPV QMB FTUSBUÒHJD QFS B MB DPNBSDB RVF QFS QSJNFSB WFHBEB DPNQUB BNC QBSUJDJQBDJØ EF MB TPDJFUBU DJWJM &M QSFTJEFOU EFM 'ÛSVN +FTÞT .BSÓB $BOHB FTQFSB RVF B QBSUJS E BSB iFT EFJYJO EF CBOEB FMT QBSUJEJTNFTw J FT MMVJUJ QFS MFT SFJWJOEJDBDJPOT EF MB DPNBSDB EFT EFM DPOTFOT EFMT NVOJ DJQJT RVF JOUFHSFO M PSHBOJTNF #BEBMPOB 4BOUB $PMPNB 4BOU "ESJË .POUHBU J 5JBOB "M EFT FNCSF FT QPESË MMFHJS FM EPDV NFOU FTUSBUÒHJD QFSÛ FM 'ÛSVN KB IB GFU EJWFSTFT BMtMFHBDJPOT

BM 1MB 5FSSJUPSJBM .FUSPQPMJUË EF #BSDFMPOB RVF FTUË FMBCPSBOU MB (FOFSBMJUBU &OUSF MFT SFJWJOEJDB DJPOT EF MB DPNBSDB EFTUBDB MB EFNBOEB RVF MB $ EFJYJ EF TFS VOB BVUPQJTUB QFS TFS VOB WJB TVCVSCBOB &M 'ÛSVN UBNCÏ SFDMBNB FM TPUFSSBNFOU EF MB MÓ OJB EF SPEBMJFT OPWFT FTUBDJPOT EF NFUSP J USBNWJB B #BEBMPOB J MB NJMMPSB EFMT BDDFTTPT BM DPN QMFY EF $BO 3VUJ " MB SFVOJØ DFMFCSBEB B MB #JCMJPUFDB EF 4BOU "ESJË IJ WBO BTTJTUJS FMT BMDBMEFT EF UPUT FMT NVOJDJQJT FYDFQUF FM EF #BEBMPOB 4Ó WB BTTJTUJS FO DBOWJ M FYBMDBMEFTTB .BJUF "S RVÏ J SFHJEPST EF UPUT FMT HSVQT

$BOHB MBNFOUB M BDUVBDJØ EFM 1BSMBNFOU FO FM QFBUHF EF MB # &M 'ÛSVN OP UÏ VOB QPTJDJØ DPO KVOUB TPCSF MB JEPOFÕUBU E VO QFBUHF B MB # UPU J RVF FM QSFTJEFOU +FTÞT .BSJB $BOHB IB MBNFOUBU RVF FM 1BSMBNFOU T BWBODÏT BM EFCBU BCBOT EF DPOTVMUBS BNC FMT NVOJDJQJT JN QMJDBUT $BOHB IB UJUMMBU M BDUVBDJØ EFM 1BSMBNFOU EF iNBMB QBTTB EBw UPU J RVF WBMPSB QFS TPCSF EF UPU MB JNQPSUËODJB EF MB # QFS VOJS MB DPNBSDB BNC FM 7BMMÒT

#BEBMPOB ÏT FM TFHPO BKVOUBNFOU BNC NÏT DËSSFDT EF DPOmBOÎB

%VSBO J -MFJEB JOBVHVSB FM OPV MPDBM E 6OJØ B #BEBMPOB

&M 11 SFDMBNB RVF FT SFUJSJO VOT CJEPOT E VO QBUJ BM DBSSFS (BSSJHB

&M SËORVJOH M FODBQÎBMB #BSDF MPOB BNC DËSSFDT EF DPO GJBOÎB J FM TFHPO MMPD M PDVQB #BEBMPOB BNC 1FM RVF GB B M )PTQJUBMFU J 4BCBEFMM FO UFOFO J SFTQFDUJWBNFOU NFOUSF RVF 5FSSBTTB OPNÏT FO UÏ VO NÏT RVF .BUBSØ RVF FO UÏ 4J NJSFN MFT DJVUBUT WFÕOFT 4BOUB $PMPNB UÏ DËSSFDT EF DPO mBOÎB J 4BOU "ESJË 4ØO EBEFT RVF IBO BQBSFHVU BM EJBSJ 3FHJØ J RVF WB GFS QÞCMJRVFT FM SFHJEPS EF HPWFSOBDJØ EF .BOSFTB

&M NËYJN SFTQPOTBCMF E 6OJØ FM EJQVUBU +PTFQ "OUPOJ %VSBO J -MFJEB BTTJTUJSË BRVFTU EJWFO ESFT B MB JOBVHVSBDJØ EFM OPV MPDBM E 6OJØ B #BEBMPOB BM DBSSFS .BSHBSJEB 9JSHV O 1FS BMUSB CBOEB %VSBO J -MFJEB IB DMBVTVSBU BRVFTU EJVNFOHF FM DPOHSÏT E 6OJØ EF +PWFT FO RVÒ T IBO SFOPWBU FMT TFVT EJSJHFOUT 3PHFS .POUB×PMB EF BOZT WB TFS FTDPMMJU DPN B OPV TFDSFUBSJ HFOFSBM J *WBO 3BCBTB EF DPN B QSFTJEFOU

&M 11 EF #BEBMPOB IB TPMtMJDJUBU BM HPWFSO MPDBM RVF QSPDFEFJYJ B JOTQFDDJPOBS VO QBUJ TJUVBU B MB DPOnVÒODJB EFMT DBSSFST -MFmË J (BSSJHB PO T FNNBHBU[FNFO CJEPOT J DPOUFOJEPST QSPDF EFOUT E VOB BOUJHB GËCSJDB J RVF TFHPOT FMT QPQVMBST QPESJFO DPOUFOJS TVCTUËODJFT QFSJMMPTFT &M QSFTJEFOU QPQV MBS 9BWJFS (BSDÓB "MCJPM IB EFNBOBU B M "KVOUBNFOU RVF SF RVFSFJYJ BM QSPQJFUBSJ EF M FEJmDJ MB SFUJSBEB EFM NBUFSJBM

NVOJDJQBMT EF MB DJVUBU

7DPEÉ ÉV QRWÍFLD

727 %DGDORQD

1PMÓUJDB JOEE

DFWXDOLWDW

UHSRUWDWJH

&M CBEBMPOÓ +PSHF +BWJFS 7È[RVF[ HVBOZB VO 0OEBT DPN B NJMMPS DPNVOJDBEPS EF M BOZ 6O HSVQ EF CBEBMPOJOT EFNBOFO RVF TJHVJ FM QSFHPOFS EF MFT 'FTUFT EF .BJH EFM

#BEBMPOB t +B T IB EPOBU B DPOÒJYFS FM WFSFEJDUF EFM KVSBU EF MB B FEJDJØ EFMT QSFNJT 0OEBT J FM CBEBMPOÓ +PSHF +BWJFS 7È[RVF[ QSFTFOUB EPS BDUVBMNFOU EFM QSPHSBNB 4ÈMWBNF B 5FMF IB HVBOZBU M 0OEBT BM NJMMPS QSFTFOUB EPS +PSHF +BWJFS IB FTUBU QSFNJBU QFS iSFOPWBS BNC CSJMMBOUPS J TFOUJU EF M IVNPS FM SPM EFM QSFTFOUBEPS FO VO HÒOFSF DPOUSPWFSUJUw "HSBEJ P OP +PSHF +BWJFS TFNQSF IB EFNPTUSBU QÞCMJDBNFOU VOB HSBO FTUJNB QFS #BEBMPOB 1FS FYFNQMF OP IJ IB EJB RVF OP BDMBSFJYJ QFS UFMFWJTJØ RVF ÏT EF #BEBMPOB 1PUTFS

QBH JOEE

NPMUB HFOU OP IP TBQ QFSÛ MB DBSSFSB QSPGFTTJPOBM EF +PSHF +BWJFS 7È[RVF[ WB DPNFOÎBS B #BEBMPOB B USBWÏT EF MFT DPMtMBCPSBDJPOT RVF SFBMJU[B WB BM EFTBQBSFHVU TFUNBOB SJ &DP #BEBMPOÒT J B 3ËEJP $JVUBU -FT TFWFT QSJNFSFT JODVSTJP OT FO FM NØO EF MB QSFNTB FT SFNVOUFO B VOB DPMVNOB TFU NBOBM EF TBGBSFJH RVF QVCMJ DBWB MB IJTUÛSJDB SFWJTUB &DP #BEBMPOÏT " 3ËEJP $JVUBU EF #BEBMPOB IBWJB QBSUJDJQBU FOUSF BMUSFT FTQBJT BM NBHB [JOF EFM NBUÓ RVF BMFTIPSFT QSFTFOUBWB MB QFSJPEJTUB CB EBMPOJOB -JEJB )FSFEJB

"OZT NÏT UBSE J EFTQSÏT EFM TFV QBT QFS MB SFWJTUB 1SPOUP +PSHF +BWJFS WB BOBS B QSP WBS GPSUVOB B .BESJE DPN B DPMtMBCPSBEPS EFM QSPHSBNB &YUSB 3PTB E "OUFOB -B TFWB GBNB WB DPNFOÎBS B BSSJCBS M BOZ HSËDJFT BM TFV GJYBUHF QFS 5FMFDJODP J MB TFWB DPMtMBCPSBDJØ BNC MB .BSJB 5FSFTB $BNQPT - BOZ DPNFOÎB MB QSFTFOUB DJØ KVOUBNFOU BNC MB $BSNFO "MDBZEF EFM NÓUJD J QPMÒNJD QSPHSBNB "RVÓ IBZ UPNBUF m OT M BOZ " QBS U JS E FM NFT E F NBSÎ E BRVFTU BOZ QSFTFOUB FM QSP HSBNB 4ÈMWBNF QSJNFS FO

727 %DGDORQD

FEJDJØ OPDUVSOB J EFTQSÒT EF GPSNB EJËSJB )J IB RVJ EJV RVF FMT 0OEBT EFTQSÒT EFM QSFNJ SFCVU QFS +PSHF +BWJFS KB OP UJOESBO UBOU EF QSFTUJHJ QFSÛ B GBWPS EF 7È[RVF[ T IB EF SFDPOÒJYFS RVF FM CBEBMPOÓ UÏ VO UP E IVNPS FOUSF NBMJDJØT J TBSDËTUJD RVF WPSFKB FMT MÓ NJUT QFSÛ RVBO IB EF EJS MFT WFSJUBUT B VO DPOWJEBU IP GB B MB QFSGFDDJØ &M QSFTFOUBEPS QFSÛ OP EFJYB JOEJGFSFOU B OJOHÞ P U BHSBEB P M PEJFT " 4ÈMWBNF TPCSFUPU B M FEJDJØ EF UBSEB QPEFN WFVSF VO +PSHF +BWJFS NÏT TIPXNBO NÏT MMJVSF J BNC NPMUFT EPUT QFS DPNVOJDBS TF BNC VO HSBO WFOUBMM EF QÞCMJD

623$56 %*+064 %*7&/%3&4 %*44"#5&4

J U T V H F %

J Y J F E V (B UJ 5B T

%FNBOFO B USBWÏT EFM 'BDFCPPL RVF TJHVJ FM QSFHPOFS EF MFT 'FTUFT EF .BJH +VTUBNFOU BSB GB VOT EJFT T IB DSFBU VO HSVQ BM 'BDFCPPL QFS EFNBOBS B M "KVOUBNFOU EF #BEBMPOB RVF +PSHF +BWJFS 7È[RVF[ TJHVJ FM QSPQFS QSF HPOFS EF MFT 'FTUFT EF .BJH &M HSVQ WJSUVBM PQJOB RVF FM QFSJPEJTUB CBEBMPOÓ FT NF SFJYFEPS EF TFS M FODBSSFHBU E PCSJS MFT 'FTUFT EF .BJH EFM QSPQFS BOZ

0(1Ó (;(03/(

"MUSFT QSFNJBUT EFM 1SFNJT 0OEBT &MT 0OEB IBO UBNCÏ EJTUJOHJUT FMT FTQBJT 4J BNBOFDF OPT WBNPT $BEFOB 4&3 "M TVS EF MB TFNBOB $01& 'BNB $VBUSP *OGPSNF 3PCJOTPO $BOBM 1MVT J &M JOUFSNFEJP -B 4FYUB

&O BRVFTUB FEJDJØ EFMT HVBS EPOT BUPSHBUT EFT EF QFS 3ËEJP #BSDFMPOB FMT EFHBOT FO SËEJP J UFMFWJTJØ EF M &TUBU

T IBO QSFTFOUBU DBOEJEB UVSFT EF QBÕTPT EJGFSFOUT -B DFSJNÛOJB E FOUSFHB EFMT 0OEBT UJOESË MMPD EVSBOU MB (SBO (BMB RVF FT DFMFCSBSË BM (SBO 5FBUSF EFM -JDFV FM QSPQFS EF OPWFNCSF -B DF SJNÛOJB MB QSFTFOUBSBO $BSMFT 'SBODJOP J ®OHFMT #BSDFMØ J M FNFUSË $VBUSP 727 %DGDORQD

QBH JOEE

DFWXDOLWDW

$BSMFT $BSWBKBM SFEBDDJP!FMUPUEJHJUBM DPN

/D QRVWUD FXLQD HQ PLQLDWXUD

$PDQLGD GH )RUPDWJH 5LVRWWR %DFDOOj (VFXPD GH &UHPD &DWDODQD

½

7RW SHU

5(6(59(6

& / (VFDOD Q &DQ\HW %$'$/21$ ZZZ UHVWDXUDQWSDOPLUD FRP

DFWXDOLWDW

SHUVRQHV

$BSMFT 5PSOFSP

i/P QPEFN DPOTFOUJS RVF -MFm Ë J -B 4BMVU FT RVFEJO TFOTF FTQFDJBMJTUFT m OT BM w

-VÓT .PSFOP SFQSFTFOUBOU EFMT WFÕOT EF -MFm Ë J -B 4BMVU -FT FOUJUBUT WFÕOBMT EF -MFm Ë J -B 4BMVU IBO MMJVSBU TJHOBUVSFT QFS SFDMBNBS BM %FQBSUBNFOU EF 4BMVU RVF UPSOJO FMT FTQFDJBMJTUFT J RVF T PCSJ VO TFSWFJ E VSHÒODJFT IPSFT -B TFUNBOB QBT TBEB FT WBO SFVOJS BM $FOUSF $ÓWJD -B 4BMVU BNC FM SFT QPOTBCMF EF MB SFHJØ TBOJUËSJB EFM #BSDFMPOÒT /PSE 7JDFOÎ 1FSFMMØ J BNC FM SFHJEPS EFM %JTUSJDUF 1BCMP )FSOÈO QFSÛ OP WBO PCUFOJS VOB SFTQPT UB TBUJTGBDUÛSJB )BVSBO E FTQFSBS TF B MB DPOTUSVDDJØ EFM OPV BNCVMBUPSJ MFT PCSFT EFM RVBM DPNFOÎBSBO EVSBOU FM QSJNFS USJNFTUSF EF -VÓT .PSFOP ÏT SFQSFTFOUBOU E BRVFTUT WFÕOT RVF FTUBO EJTQPTBUT TJ GB GBMUB B TPSUJS BM DBSSFS QFS BDPOTFHVJS RVF TF MT FTDPMUJ 2VJO ÏT FM QSPCMFNB 'B VO UFNQT TF OT WBO FOEVS FMT FTQFDJBMJTUFT EFM CBSSJ QFS RVÒ TFHPOT FOT WBO EJS IB WJFO EF SFNPEFMBS M BNCVMBUPSJ EF -MFm Ë B MB QMBÎB 5SBGBMHBS 'FUB MB SFNPEFMBDJØ FMT FT

1FSTPOFT JOEE

QFDJBMJTUFT IBWJFO EF UPSOBS -B OPTUSB TPSQSFTB ÏT RVF IBO QBTTBU FMT BOZT J VO EJB FOT EJVFO RVF OP UPSOBSBO m OT RVF FT DPOTUSVFJYJ FM OPV BNCVMBUPSJ B MB QMBÎB EFM (SBO 4PM 1PSUFN VO HSBQBU E BOZT TFOTF FTQFDJBMJTUFT J B TP CSF FOT IFN E FTQFSBS BOZT m OT RVF FT DPOTUSVFJYJ FM OPV DFOUSF &O UPUBM BOZT TFO TF FTQFDJBMJTUFT FO VOT CB SSJT DPN -MFm Ë J -B 4BMVU BNC VOB QPCMBDJØ E FOUSF J QFSTPOFT 7PMFN FM SFUPSO EFMT FTQFDJBMJTUFT J VO TFSWFJ E VSHÒODJFT IPSFT

" .BUBSØ 4Ó * IBT E BOBS IJ BNC FMT UFVT QSPQJT NJUKBOT 4J OP UFOT NJUKË EF USBOTQPSU UF M IBT EF CVTDBS UV J QBHBS U IP UV "JYÛ OP IP QPEFN DPOTFOUJS &T WBO SFVOJS MB TFUNBOB QBTTBEB VO BMUSF DPQ BNC FM EFQBSUBNFOU EF 4BMVU /P FMT WBO EJS SFT 4Ó RVF M BNCVMBUPSJ FT GBSË J E BRVÓ OP BWBODFN &M TFSWFJ EF IPSFT J FM SFUPSO EFMT FTQFDJBMJTUFT KB FOT IBO EJU RVF OP QPU TFS QFSRVÒ FOT EJVFO RVF T IB EF QSFQBSBS FM $"1 EF 5SBGBMHBS QFSÛ OP ÏT DFSU QFSRVÒ m OT J UPU IJ IB TBMFT CVJEFT

* RVÒ IJ EJV M BENJOJTUSBDJØ &OT IFN SFVOJU WFHBEFT BNC FM EFQBSUBNFOU EF TBMVU J MB TFUNBOB QBTTBEB T IBWJFO DPNQSPNÒT B EJS OPT BMHVOB DPTB QFSÛ OP FOT IBO EJU SFT -FT DPTFT TFHVFJYFO JHVBM ²T B EJS RVF m OT BM P OP UJOESFN FTQFDJBMJTUFT &OT TFOUJN FOHBOZBUT J FM CBSSJ FTUË GBSU -FT MMJTUFT E FTQFSB TØO NPMU MMBSHVFT EF B NFTPT J IJ IB QFSTPOFT HSBOT RVF T IBO EF EFTQMBÎBS B 4BOU "ESJË J m OT J UPU B .BUBSØ

/P IJ IB DBQ FTQFDJBMJTUB /P O IJ IB DBQ OJ EF WJTUB OJ EJHFTUJV OJ E PTTPT 3FT EF SFT * RVÒ IBO EF GFS BSB &M EJB E PDUVCSF UFOJN VOB BTTFNCMFB J GBSFN FM RVF EJHVJO FMT WFÕOT 4J FOT EJVFO RVF IFN EF TPSUJS BM DBSSFS EPODT TPSUJSFN

727 %DGDORQD

&(175(

//(),¬

//(),¬

/RFDO P GLYLGLGR HQ VyWDQR P SO EDMD P DOWLOOR P IDFKDGD D OD FDOOH DSWR FXDOTXLHU QHJRFLR -8172 0$57Ë 38-2/ $/4 ¼ ,9$

È7,&2 P 7(55$=$ P KDE GREOH FRFLQD \ EDxR VDOyQ FRQ VDOLGD D W]D SUHFLVD UHIRUPDV =21$ $/7$ ¼ 376

%8)$/¬

320$5

3LVR 72'2 (;7(5,25 FRQ KDE 683(5 5()250$'2 DLUH IUtR FDORU DOWXUD UHDO -8172 ,*/(6,$ ¼ 376

6$17 $'5,¬

3,62 FRQ KDE GREOHV 5()25 0$'2 VDOyQ P FDOHI DLUH DFRQG ¿QFD FRQ DVFHQVRU -8172 %,%/,27(&$ ¼ 376

3LVR -8172 02/Ë '( /$ 7255( FRQ KDE ]RQD PX\ WUDQTXLOD 5()250$'2 EDOFyQ EXHQD GLVWULEXFLyQ ¼ 376

/$ 6$/8'

-72 3(3 9(1785$

3LVR HQ *32 9,5*(1 /$ 6$/8' GH KDE 72'2 (;7( 5,25 DOWR \ FRQ DVFHQVRU VDOyQ P FRQ EDOFyQ SUHFLVD UHIRUPDV ¼ 376

3LVR 72'2 (;7(5,25 MXQWR LJOHVLD KDE 5()250$'2 VDOyQ HQ DPELHQWHV ¿QFD SRFRV YHFLQRV ¼ 376

/$ 025(5$

$/)216 ;,,,

3LVR 6(0, 18(92 FRQ KDE WRGR H[WHULRU ¿QFD FRQ DVFHQVRU SDUNHW \ JUHV FDOHIDF DLUH DFRQG -8172 &(1752 ¼ 376

3LVR HQ /$ 6$/8' FRQ $6&(1625 GH KDE GREOHV

5()250$'2 EDOFyQ P FDOHI DLUH DFRQG /,672 3$5$ 9,9,5 ¼ 376

&$1<$'Ï

&(175(

3LVR 72'2 (;7(5,25 FRQ *5$1'(6 9,67$6 $ 0$5 KDE DQWHV VDOyQ HVWDU P EDOFyQ W]D DOWR \ FRQ DVFHQVRU 376

7,$1$

%8)$/¬

3LVR P KDE EDxR \ FRFLQD UHIRUPDGRV VDOyQ P F VDOLGD D EDOFyQ VXHOR JUHV FDOHIDF D D DVF /,672 3$5$ (175$5 $ 9,9,5 ¼ 376

'83/(; P WHUUD]D P ,'($/ 3$5$ )$0,/,$6 KDE DLUH IUtR FDORU SXHUWDV UREOH -8172 $3(1,126 ¼ 376

//25('$ 3LVR P SDWLR P K GREOHV VDOyQ P 5()250$'2 $ (675(1$5 DPXHEODGR \ FRQ HOHFWURG FDOHIDF SRFRV YHFLQRV ¼ 376

3LVR FRQ KDE 72'2 (;7(5,25 EDOFyQ WLSR WHUUDFLWD ¿QFD FRQ DVFHQVRU DLUH IUtR FDORU /LVWR SDUD YLYLU ¼ 376

& //(),¬

&(175(

3LVR 6(0, 18(92 MXQWR &$1 62/(, KDE 7(55$=$ P SDUNHW SDUNLQJ RSF WRGR H[WHULRU DVFHQVRU ¼ 376

3LVR 3$5$ (175$5 $ 9,9,5 GH P KDE SDUNHW \ JUHV EDOFyQ PX\ VROHDGR FDOHIDF DLUH DFRQG SDUNLQJ LQFOXLGR ¼ 376

&$6$*(0(6

0$6 5$0 3LVR -8172 & '(/ 0$5 K GREOHV P 683(5 5()250$'2 DLUH DFRQ \ FDOHI ¿QFD SRFRV YHFLQRV WHUUD]D FRPXQLW =21$ ,10(-25$%/( ¼ 376

)5217 0$5Ë7,0

QBHJOB JOEE

%8)$/¬

3LVR P 6(0, 18(92 FRQ ]RQD FRPXQLWDULD KDE VXLWWH

DPSOLR EDOFyQ FDOHIDF DLUH DFRQG -8172 3/$<$ ¼ 376

3LVR 6$17 &(%5,$ '( 9$//$/7$ 72'2 (;7(5,25 P KDE VXLWWH

EDxRV FRFLQD RI¿FH 7(55$=$ P FDOHIDF DVF =21$ &2081,7$5,$ & 3,6&,1$ 3. ,1&/8,'2 ¼ 376

0217,*$/¬

%8)$/¬

3LVR /,672 3$5$ 9,9,5 P K GREOHV EDxR \ FRFLQD UHI VDOyQ P F VDOLGD D EDOFyQ SDUTXHW \ JUHV FDOHIDF D DFRQG DVFHQVRU ¼ 376

&DVD 3/$17$ %$-$ 3$7,2 P 7(55$=$6 KDE EDxR \ DVHR VDOyQ P FDOHIDF D D WUDVWHUR SRVLEOH HGL¿FDU SODQWDV PiV 08&+$6 326,%,/,'$'(6 ¼ 376

//(),*UDQ SLVR -8172 3/ 75$)$/*$5 P KDE EDxR \ DVHR VDOyQ P FRQ EDOFyQ D OD FDOOH GLVSRQLELOLGDG LQPHGLDWD ¼ 376

3LVR FRQ $6&(1625 HQ F 5$021 //8// KDE H[WHULRUHV DPXHEODGR \ 5()250$'2 ¼ 376

&75$ $17 9$/(1&,$ 3LVR GH P KDE EDOFyQ FDOHIDF DLUH DFRQG $/72 < &21 $6&(1625 SDUNLQJ RSF -8172 '5 %$662/6 ¼ 376

3LVR /,672 3$5$ 9,9,5 FRQ KDE 5()250$'2 VDOyQ P HQ DPELHQWHV FRQ EDOFyQ SXHUWDV KD\D ,03(&$%/( ¼ 376

2&$6,Ï1

67$ &2/20$

3LVR HQ %$55, //$7Ë MXQWR 0RQWLJDOj GH KDE 683(5 5()25 0$'2 LQVWDO QXHYDV SDUNHW FDOHI DLUH DFRQG ,03(&$%/( ¼ 376

727 %DGDORQD

672 &5,672

*5$1 7255( $ 9,(1726 HQ SDUFHOD GH P \ P FRQVWUXLGRV KDELWDFLRQHV GREOHV FRFLQD RI¿FH P VDOyQ GH P FDOHIDF D D SLVFLQD 9,67$6 $/ 0$5 ¼ 376

6RODU P HGL¿FDEOH -8172 ,1'(3(1'(1&,$ IDFKDGD PWV [ PWV IRQGR SRVLEOH FRQVWUXLU SO EDMD SLVRV DFWXDOPHQWH JDUDMH \ JUDQ SDWLR P ¼ 376

&/$6,),&$'26

)5217 0$5,7,0 %$'$/21$

6 $ 1 $ ' 5 , $ &(1752

%$'$/21$ & $/)2162 ;,,,

OLQHD GH PDU ³)DQ WDVWLFDV YLVWDV´ 3LVR +DE GREOHV $OWR $PSOLD WHUUD]D 3HUIHFWR HVWDGR =RQD FXP FRQ SLVF 'RV SOD]DV SN LQFO \ WUDVWHUR

& %RJDWHOO 3LVR KDE $OWR ([WHULRU $VF 7RGR UHIRUPDGR &DOHI $ $ 3DUD HQWUDU D 9LYLU ³8QD H[FHOHQWH RSRUWXQLGDG SDUD SDUHMDV´

$YGD $OIRQVR ;,,, 3LVR GH KDELWDFLRQHV ([W $VFHQVRU 7RGR UHIRUPDGR SDUD HQWUDU D YLYLU =RQD PX\ ELHQ FRPXQLFDGD ³%XHQD RSRUWXQLGDG´

3UHFLR ½

3UHFLR ½

3UHFLR ½

% $ ' $ / 2 1 $ &(1752

% $ ' $ / 2 1 $ &(1752

6$17$ &2/20$ & ,5/$1'$

3LVR HQ REUD QXHYD D HVWUH QDU KDE \ EDxRV %DOFyQ D OD FDOOH &DOHI \ D D $FDEDGRV GH FDOLGDG ³,GHDO SDUHMDV´ HQ HO SUHFLR LQFOXLGD OD SOD]D GH DSDUFDPLHQWR

& $VVHPEOHD FDWDOXQ\D )UHQWH DO QXHYR $\XQW *UDQ SLVR HQ ¿ QFD VHxRULDO PHWURV *UDQ VDOyQ KDE \ EDxRV KDE \ DVHR GH VHUYLFLR 3O] SN FRFKH JUDQGH ³/ODPH H LQIRUPHVH´

-WR -DFLQWR YHUGDJXHU 3LVR GH KDE $OWR $VFHQVRU ([W D OD FDOOH 3DUD HQWUDU D YLYLU ³,QFUHLEOH RSRUWXQLGDG SRU SUHFLR´

3UHFLR ½

3UHFLR D FRQVXOWDU

3UHFLR ½

9

"

DBSB DBSBT

DBSB DBSBT

å å

å å

å å

å

å å å å å å

å å å å å å

å å å å å å

å å å å å å

'PSNBUP

" DBSB

DBSBT

QBH JOEE

DBSBT

å

'PSNBUP

Y

"

Y

"

å

å

å

å

å å å

å å å

å å å

å å å

"

Y

"

Y

'PSNBUP

" DBSB

å

å

å

å

å å å

å å å

å å å

å å å

727 %DGDORQD

2%5$ 18(9$ -72 0­*,& %'1

2%5$ 18(9$ & *8,)5e

2%5$ 18(9$ 5 6$17 -25',

3LVRV KDE FRQ VRODULXP 3LVRV KDE FRQ VRODULXP 3ODQWDV G~SOH[ \ KDE FRQ WHUUD]D \ HQWUDGD LQGHS $FDEDGRV GH FDOLGDG 0X\ EXHQDV YLVWDV (175(*$ ,10(',$7$ 35(&,26 KDE \ WHUUD]D ½ KDE VRODULXP ½ 3ODQWD EDMD LQGHSHQGLHQWH JUDQ WHUUD]D ½

-72 6$/(6,$126 %$'$/21$ &(1752 3LVRV GH \ KDE $FDEDGRV FDOLGDG ([W D FDOOH 0X\ VROHDGRV &OLPDOLW $ $ ERPED GH FDORU 3OD]DV SDUNLQJ RSF (175(*$ ,10(',$7$ 35(&,26 /RIW KDE ½ 3LVR KDE ½ 3LVR KDE \ JUDQ WHUUD]D SOD]D SDUNLQJ ½

-8172 5(1)( 021*$7 3LVRV GH KDELWDFLRQHV H[WHULRUHV VRODULXP 3ODQWD G~SOH[ KDELWDFLRQHV \ EDxRV DVHR \ JUDQ WHUUD]D $FDEDGRV GH H[FH OHQWH FDOLGDG 9LVWDV PX\ DJUDGDEOHV ([FHOHQWH ]RQD MXQWR DO PDU 3DUNLQJ \ WUDVWHUR RSFLRQDOHV (175(*$ ,10(',$7$ 35(&,26 KDE VRODULXP ½ '~SOH[ KDE \ JUDQ WHUUD]D ½

2%5$ 18(9$ & 0$57Ì 38-2/ )DQWiVWLFRV SLVRV GH HQWUHJD LQPHGLDWD $PSOLRV VDORQHV GRUPLWRULRV DPSOLRV EDxRV &RFLQDV RI¿FH \ HTXLSDGDV 6XHOR GH PiUPRO &OLPDOLW $LUH DFRQGLFLR QDGR \ FDOHIDFFLyQ LQG D JDV 7RGRV H[WHULRUHV *UDQ GHV WHUUD]DV \ VRODULXP 3DUNLQJ RSFLRQDO (175(*$ ,10(',$7$ 35(&,26 ½ 2%5$ 18(9$ & %$/'20(52 62/­

2%5$ 18(9$ & 0$5,1$

2%5$ 18(9$ (1 &$1(7 '( 0$5

%$'$/21$ &(1752 3LVRV GH \ KDE JUDQGHV WHUUD]DV )LQFD REUD YLVWD $FDEDGRV GH FDOLGDG $ $ ERPED GH FDORU 3OD]DV GH SDUNLQJ RSFLRQDO HQ OD PLVPD ILQFD 9,6,7( 3,62 '( 08(675$ 35(&,26 'HVGH ½ KDE ½ KDE ½ KDE \ JUDQ WHUUUD]D

££$ OOHJDGR HO PRPHQWR GH FRPSUDU (Q OD PHMRU ]RQD GH %DGDORQD MXQWR OD HVWDFLyQ GH 5(1)( $WLFRV GH WUHV GRUPLWRULRV GRV EDxRV \ JUDQ WHUUD]D $FDEDGRV GH FDOLGDG )DFLOLGDGHV GH ¿QDQFLDFLyQ 3UHFLR GHVGH VROR (XURV /ODPH \ OH LQIRUPDUHPRV

&$1(7 '( 0$5 &(1752 )DQWiVWLFRV SLVRV GH QXHYD FRQVWUXFFLyQ 3LVRV GH \ GRUPLWRULRV ÈWLFRV GXSOH[ FRQ WHUUD]D $FDEDGRV GH JUDQ FDOLGDG 7RGRV FRQ SOD]D GH SDUNLQJ \ WUDVWHUR LQFOXLGR HQ SUHFLR 3UHFLRV GHVGH 3LVR KDE ½ 3LVR KDE ½ ÉWLFR G~SOH[ \ WHUUD]D ½ /ODPH \ OH LQIRUPDUHPRV

6L HV XVWHG 35202725 OOiPHQRV \ KDEODPRV

$YHQLGD %XIDOi 3ODQWD %DGDORQD

ZZZ P LQWHJUDO FRP

727 %DGDORQD

. *OUFHSBM QBH JOEE

DFWXDOLWDW

OD VHWPDQD HQ LPDWJHV

&M .FSDBU EFM 5SBTUP FTEFWÏ VO ÒYJU EF QBSUJDJQBDJØ J QÞCMJD &M 1BSD EF MFT .VOUBOZFUFT EF .POUJHBMË WB BDPMMJS FM QBTTBU EJVNFOHF MB TJTFOB FEJDJØ EFM .FSDBU EFM 5SBTUP &OHVBOZ NÏT EF QBSBEFT NÏT RVF M BOZ QBTTBU WBO PNQMJS FM QBSD E PCKFDUFT EF DPNQSB WFOEB JOUFSDBOWJ J SFHBM -B USPCBEB mOT J UPU WB BUSFVSF WFOFEPST EF UPUB M ËSFB NFUSPQPMJUBOB .PMUT WJTJUBOUT DPNFOUBWFO RVF MB DSJTJ T IBWJB OPUBU J M BnVÒODJB EF QÞCMJD T IBWJB JODSFNFOUBU OPUBCMFNFOU 'PUP "KVOUBNFOU EF #BEBMPOB

$FMFCSBEB MB 9*** 5SPCBEB EF MB (FOU (SBO EF #BEBMPOB BNC NÏT EF FTQFDUBEPST &M QBWFMMØ QPMJFTQPSUJV EF .POUJHBMË WB BDPMMJS FM QBTTBU EJVNFOHF BRVFTUB USBEJDJPOBM USPCBEB EFMT DBTBMT EF MB HFOU HSBO EF #BEBMPOB RVF FOHVBOZ BSSJCBWB B MB USFU[FOB FEJDJØ &MT BWJT RVF IJ WBO QBSUJDJQBS WBO QSFTFOUBS EJGFSFOUT FT QFDUBDMFT NVTJDBMT RVF EVSBOU FMT EBSSFST NFTPT IBO QSFQBSBU EFT EFM TFV DBTBM E BWJT %VSBOU MB UBSEB M FTDFOBSJ FT WB PNQMJS EF HFOU HSBO BNC FNQFOUB J NPMUT BOJNT

&MT DBTUFMMFST EF #BEBMPOB UPSOFO B GFS IJTUÛSJB EBWBOU

MB 4BHSBEB 'BNÓMJB %FTQSÒT EF MB CPOB BDUVBDJØ FM QBTTBU E PDUVCSF BM $PODVST EF 5PSSFEFNCBSSB FMT EF MB DBNJTB EF DPMPS NJDBDP WBO GFS VOB CSJMMBOU BDUVBDJØ BRVFTU EJVNFOHF EBWBOU MB 4BHSBEB 'BNÓMJB EF #BSDFMPOB &MT CBEBMPOJOT WBO EFTDBSSFHBS VO TFHPO DJOD EF TFU J VO RVBUSF EF TFU FOUSF E BMUSFT DBTUFMMT

4 JOBVHVSB FM DJDMF i2VF WPMFN TFSw E ¾NOJVN $VMUVSBM $PJODJEJOU BNC MB DFMFCSBDJØ EFM Ò BOJWFSTBSJ EF M FOUJUBU BM #BSDFMPOÒT /PSE IB PSHBOJU[BU VO DJDMF EF YFSSBEFT RVF QPSUFO QFS UÓUPM i2VF WPMFN TFSw -B TFUNBOB QBTTBEB VOB USFOUF OB EF QFSTPOFT WBO BTTJTUJS BM EJËMFH RVF QPSUBWB QFS UÓUPM i1BSUJDJQBDJØ QFS B RVBO w&M QSPQFS EJËMFH TFSË $BUBMBOJTNF BNC BDDFOU NFUSPQPMJUË FM EJB E PDUVCSF BNC +PSEJ 1PSUB QSFTJEFOU E ¾NOJVN $VMUVSBM J 4ÓMWJB 4PMFS QFSJPEJTUB J FTDSJQUPSB

&M 5VSØ E FO $BSJUH EJTQPTB E VOB OPWB

FTUBDJØ EF NFTVSB EF MB DPOUBNJOBDJØ BUNPT GÒSJDB #BEBMPOB IB FTUSFOBU VOB OPWB FTUBDJØ EF DPOUSPM EF MB RVBMJUBU EF M BJSF TJUVBEB B M FEJmDJ EF MB (VËSEJB 6SCBOB BM 5VSØ $BSJUH -B OPWB FTUBDJØ NFTVSB FO EJFT BMUFSOT FM OJWFMM EF QBSUÓDVMFT FO TVTQFOTJØ MFT RVBMT UFOFO FM TFV PSJHFO QSJODJQBM NFOU FO FM USËOTJU 4 IB FTDPMMJU MB TFWB VCJDBDJØ BM 5VSØ $BSJUH QFS USBDUBS TF E VOB ËSFB QPD USBOTJUBEB BNC M PCKFDUJV EF NFTVSBS MB DPOUBNJOBDJØ EF GPOT

-B4FUNBOB&O*NBUHFT JOEE

727 %DGDORQD

HVSRUWV -B 1FOZB NJMMPSB FM TFV KPD J FT NBOUÏ &M #BEBMPOB FTUSFOB FOUSFOBEPS J HPMFKB BM JOWJDUF QFS KVHBS BM #MBVHSBOB

#BEBMPOB t &M %,7 +PWFO UVU DPOUJOVB JOWJDUF EFTQSÏT E BDPOTFHVJS EBWBOU VO &TUV EJBOUFT NJOWBU QFMT FGFDUFT EF MB HSJQ FM TFV UFSDFS USJPNG FO VO QBSUJU PO FM QFSÓ NFUSF EFM WFSE J OFHSFT WB TFS JNQMBDBCMF BNC 1FSF 5PNÈT J $MBZ 5VDLFS DPN B KVHBEPST NÏT EFTUBDBUT &MT FTUVEJBOUJMT WBO EPNJOBS FM QBSUJU FO FM QSJ NFS RVBSU HSËDJFT BMT QVOUT RVF FT WBO SFQBSUJS "IFBSO J +BTFO J RVF WB QPTBS BMT EFM 3BNJSP FO VO NËYJN BWBOUBUHF

.BPOÒT

EF QVOUT QFSÛ FT WBO FOGPO TBS FO FM TFHPO QFSÓPEF &M %,7 WB BOBS NBMBNFOU FO MB EFGFOTB EFM QFSÓNFUSF J NBMHSBU FM TFV FODFSU FO FMT USJQMFT BNC USFT DJTUFMMFT OP WB FWJUBS BDBCBS FM RVBSU TFU QVOUT QFS TPUB BM NBSDBEPS 5PU WB DBOWJBS BNC $MBZ 5VDLFS FOUSBOU BM QBSUJU EFT EF MB CBORVFUB &M OPSE BNFSJDË WB TFS TFOTBDJPOBM BOPUBOU QVOUT J BTTJTUJOU BMT TFVT DPNQBOZT FO FM TFHPO RVBSU %FTUBDBS FM HSBO QBSUJU FGFDUVBU QFS 1FSF 5PNËT RVF B NÏT E BOPUBS QVOUT TFOU FM NËYJN BOPUBEPS EFM QBSUJU WB SFBMJU[BS VO QBSUJU NPMU DPN QMFU -B 1FOZB JOWJDUF EJTQVUBSË BRVFTU EJTTBCUF B MFT EF MB UBS EB FM EFSCJ DBUBMË B MB QJTUB EFM 3FHBM #BSÎB - FRVJQ EF 3JDLZ 3VCJP WB QFSESF MB JNCBUJCJMJUBU B (SBO $BOËSJB PO MB 1FOZB WB BDPOTFHVJS MB WJDUÛSJB

#BEBMPOB t 7JDUÛSJB DMBSB J DPO UVOEFOU EFMT FTDBQVMBUT FO VO QBSUJU EJSJHJU EJVNFOHF QBTTBU QFS #FSOBOEP 'VFOUFT TVCTUJ UVU JOUFSÓ EF .BOPMP (PO[ÈMF[ EFTUJUVÕU EJNFDSFT QBTTBU &M #BEBMPOB WB TPSUJS BM DBNQ BNC VO DBOWJ E BDUJUVE OPUBCMF DPO USB VO 4QPSUJOH .BPOÒT RVF UPU J MB DMBSFEBU EFM SFTVMUBU WB EFJYBS TFOTBDJPOT E FRVJQ TÛMJE " MB QSJNFSB QBSU M FRVJQ FT WB NPTUSBS NPMU FRVJMJCSBEB TJ CÏ FM #BEBMPOB WB EPNJOBS MB QPTTFTTJØ EF MB QJMPUB &MT HPMT WBO TFS PCSB EFM USJEFOU CBEBMPOÓ GPSNBU QFS %BWJE 1SBUT %JFHP 5PSSFT J 9BWJFS .PMJTU %FTQSÒT E BRVFTUB WJDUÛSJB CBMTËNJDB FM #BEBMPOB KVHBSË BRVFTU EJV NFOHF FM EFSCJ DPNBSDBM EBWBOU MB (SBNFOFU &M QBSUJU DPNFOÎB SË B MFT I B 4BOUB $PMP NB EF (SBNFOFU

5*"/"

7&/5" 1*404 0#3" /07"

5FM 888 -(.4" $0.

727 %DGDORQD

QBH JOEE

HVSDL F

GURCK E

FXOWXUD DJHQGD OOLEUHV PÙVLFD FLQHPHV QRWÍFLHV

QFDFT QFS BOZT EFM (SVQ EF #FMMFT "SUT #BEBMPOB t &M .VTFV BDVMM BRVFTUT EJFT M FYQPTJDJØ i EFM HSVQ Ò BOJWFSTBSJ EFM (SVQ EF #FMMFT "S UTw VOB DPMtMFDUJWB RVF SFVOFJY PCSFT E PO[F QJOUPST E BRVFTUB FO UJUBU RVF OP QBSB EF EJGPOESF MFT BSUT QMËTUJRVFT FO BRVFTUT BOZT -FT PCSFT BQPSUBEFT FT DB SBDUFSJU[FO QFS VOB OPUBCMF WBSJFUBU EF UFNFT J UÒDOJRVFT )J USPCBSFN QBJTBUHFT VS CBOT SVSBMT J NBSJOFT BM DPT UBU EF QFDFT BCTUSBDUFT P E VO DMBS SFTTÛ FYQSFTTJPOJTUB J WFVSFN DPN MFT KB USBEJDJP OBMT BRVBSFMtMFT J QJOUVSFT B M PMJ DPOWJVFO BNC BQMJDBDJPOT NÏT QFSTPOBMT J BNC NBUF SJBMT NFOZT PSUPEPYPT J EF UFOEÒODJB NÏT QSÛQJBNFOU DPOUFNQPSËOJB 6OB FYQPTJDJØ RVF DPNQUB BNC QFDFT EF "MGPOTP #FSSBM 3VCJP "OUPOJP #PSSFHVFSP 7JOBHSF 'SBOD FTD #VFOP &TQJOPTB 'SBODFTD $PTUB "NJHØ -MVÓT .POUB×Ë "MTJOB $BSNFO .VOHVJB 4FSSBOP

+PBO 1FSJT 1VJH 3BGBFM 1VKBMT "HVTUÓ +ÞMJB 2VÓMF[ 4FSSBOP +PTFQ 3PESÓHVF[ $BNQJMMP %BNJË 4FHBSSB $PEJOB 0O[F BSUJTUFT RVF UFOFO FO DPNÞ FM GFU EF QFSUËOZFS B VOB BT

TPDJBDJØ RVF GB NÏT EF NJH TFHMF RVF USFCBMMB BNC MB DPNQMJDJUBU EFM .VTFV QFS M BSU B MB OPTUSB DJVUBU (JOB EF 5FSB

%JPOÓT 0SSJU FYQPTB B M &TQBJ #FUÞMJB #BEBMPOB t - &TQBJ #FUÞMJB FTUË FTEFWFOJOU VO EFMT FJYPT WFSUFCSBEPST EF MB DVMUVSB B MB DJVUBU J WFUMMB QFS MFT MMFUSFT QFSÛ BMIPSB QFS UPUFT MFT BS UT RVF UBSE P E IPSB UFOFO VOB SFMBDJØ EJSFDUB BNC FM NØO EFM OFHSF TPCSF CMBOD "RVFTUB TFUNBOB T IB JOBV HVSBU M FYQPTJDJØ i$POUJOVB

$*$-&4 (0/;«-&;

SË JSSFEFNQU w VOB TFMFDDJØ E JOTUBMtMBDJPOT J FTDVMUVSFT EF M BSUJTUB %JPOÓT 0SSJU RVF HJSFO BM WPMUBOU EFM GFU MJUFSBSJ FO MB TFWB NËYJNB BNQMJUVE EFT EFMT QSPQJT DSFBEPST m OT BMT NFDBOJTNFT EF EJGVTJØ J EJTUSJCVDJØ EFM QSPEVDUF 6OB NPTUSB JOUFSFTTBOUÓTTJNB BNC QFDFT RVF FOT DPOWJEFO

QBH JOEE

'JOT BM EF EFTFNCSF

#JDJDMFUBT OVFWBT Z EF PDBTJØO 3FQBSBDJPOFT QSFTVQVFTUP TJO DPNQSPNJTP /PT RVFEBNPT UV CJDJDMFUB BM DPNQSBS VOB OVFWB 4&37*$*0 3«1*%0 : 4&3*0

$ 1PNBS EF CBJY #BEBMPOB 5FM

B MB SFn FYJØ J E BMUSFT RVF m OT J UPU FOT EFTQFSUFO VO QFUJU J JSÛOJD TPNSJVSF 5PU J BJYÓ 0SSJU FT NPTUSB NPMU DSÓUJD TPCSFUPU QFM RVF GB FMT DPOUJO HVUT NÏT SFMBDJPOBUT BNC MB OPTUSF JEFOUJUBU DPN B QPCMF "MUBNFOU SFDPNBOBCMF

"º04 "- 4&37*$*0 %&- .6/%0 %& -" #*$*$-&5"

0'&35" 3FWJTJØO DPNQMFUB Z FOHSBTF

å

727 %DGDORQD

#BEBMPOB t "RVFTU DBQ EF TFU NBOB FM $ÓSDPM $BUÛMJD FODFUB MB UFNQPSBEB UFBUSBM BNC VOB DPNÒEJB ËHJM J EJWFSUJEB RVF GBSË FTDMBUBS MFT SJBMMFT EF UPUT FMT BTTJTUFOUT i1FMT 1ÒMTw -B QFÎB FTUË CBTBEB FO M PCSB i4IFBS .BEOFTTw EF 1BVM 1ÚSUOFS J RVF KB T IB QPHVU WFVSF FO BM HVOB PDBTJØ B #BSDFMPOB 6OB QFSSVRVFSJB FTEFWÏ M FTDFOB E VO JODSFÕCMF DSJN IBO NBUBU B VOB EPOB BNC VOFT UJTPSFT EF DN 5PUT FMT JNQMJDBUT FT USP CFO B MB QFSSVRVFSJB QFSÛ RVJ ÏT M BTTBTTÓ i1FMT 1ÒMTw ÏT VO DPNÒEJB QSFTFOUBEB FO UP JSÛOJD PO FM QÞCMJD IJ UÏ NPMU B EJS TJ FT WPM TBCFS RVJ ÏT M BTTBTTÓ 9 B W J $ B S S F S B T I B F T U B U M FODBSSFHBU E VO NVOUBUHF DPN QMFY RVF DPNQUB BNC VO FMFOD EF MVYF BNC +VEJU #BEPTB .BSJB

"OUÛOJB $BSCØ +PSEJ $BSSFUÏ 5POJ 'PSUF[B J .BSD 5PSSFDJMMBT BMHVOT EFMT BDUPST NÏT FNCMF NËUJDT EF M FOUJUBU .PMU E FTGPSÎ EF UPUT FMT BDUPST J UÒDOJDT RVF IBO GFU QPTTJCMF BRVFTU NVO UBUHF ÏT M FTQFSJU EFMT KPWFT QPUTFS RVF NBJ FT DBOTFO EF GFS NÏT J NÏT J BHBGBS PCSFT

HVSDL F

-B %SBNËUJDB EFM $ÓSDPM QSFTFOUB i1FMT 1ÒMTw BRVFTU DBQ EF TFNBOB

NÏT EJGÓDJMT QFSÛ EF NPNFOU TF O WBO TPSUJOU J BNC CPOB OPUB &OEBWBOU EPODT i1FMT 1ÒMTw EJB EJTTBCUF B MFT IPSFT J EJVNFOHF B MFT IPSFT 5FBUSF EFM $ÓSDPM $BUÛMJD (JOB EF 5FSB

4J FOT WPMT JOGPSNBS EF RVBMTFWPM OPUÓDJB DVMUVSBM FOWJB OT VO NBJM B FTQBJ$!FMUPUEJHJUBM DPN

, . 0!)d0% %*" *0%( 7*/& " +6("3 7*/& " $&-&#3"3 &- 5&6 "/*7&34"3* ".# &-4 5&64 ".*$4 0CFSU UPUT F-T EJFT %JVNFOHF EF OPWFNCSF

'FTUB )BMMPXFFO

$Y GHO *XL[ 3RO ,QG /HV *XL[HUHV %DGDORQD

7HO

6QV GP EWNVWTC 727 %DGDORQD

QBH JOEE

HVSDL F

DJHQGD %DGDORQD

.ÞTJDB

&TQFDUBDMF .VTJDBM

$".1*0/"5 %& #3&", %"/$& 7T B MFT I BM $$ -B $PMJOB

%JMMVOT

#"-- * .Á4*$" &/ 7*6 " MFT I BM $BTBM 1FQ 7FOUVSB "MGPOT 9**

%JKPVT 4FNJOBSJ

&--&4 7*"5(&/ 40-&4 -PO ESFT 8PPMG 7JBUHF EFM TFNJOBSJ TPCSF 7JSHJOJB 8PPMG 'JOT EJMMVOT E PDUVCSF B MB 3FHJEPSJB EF MB EPOB

&YQPTJDJØ

$0/5*/6"3® B MFT I B M &TQBJ #FUÞMJB

&63&," &41&$5"$-& %& 5*5& --&4 B DËSSFD EF MB DPNQBOZJB &M DBV EF M VOJDPSO B MFT I BM 5FBUSF ;PSSJMMB

4PSUJEB

$"/5"#3*" 'JOT EJWFOESFT E PDUVCSF $BTBM 1FQ 7FOUVSB

5FBUSF

1&-4 1µ-4 MB ESBNËUJDB EFM DÓS DPM B MFT I BM $ÓSDPM $BUÛMJD J EJVNFOHF B MFT I

%JKPVT

$PODFSU

%JWFOESFT 9FSSBEB

%3&". 5)&"5&3 B MFT I BM 1BMBV .VOJDJQBM E &TQPSUT EF #BEBMPOB

$PODFSU

*** +BN -B $PMJOB

4"503* " MFT I BM $$ %BMU -B 7JMB 4," 1 B MFT I BM 1BMBV .VOJ DJQBM E &TQPSU EF #BEBMPOB $)0$0-"5 B MFT I BM 5FBUSF ;PSSJMMB

%JVNFOHF

.BSBUØ DPOUSB FM DËODFS

$BNQJPOBU % FYDVSTJPOJTNF

5BMMFS *OGBOUJM

$3&" '*(63&4 ".# 10.10/4 OFOT FT BOZT B MFT I " M "CBDVT #BEBMPOB

'FTUB 5SBEJDJPOBM

" &%*$*» % &-4 $0-034 %& -" 5"3%03 MB JOUFSDVMUVSBMJUBU BMT OPTUSF CBSSJT -MFGJË o -B 4BMVU B MB 3BNCMB 'MPSJEBCMBODB B QBSUJS EF MFT I BNC BDUVBDJPOT UBMMFST FUD

.0--&364" ".# 7*4*5" "- .64&6 %& 7&45*54 %& 1"1&3 *OTDSJQDJPOT EJMMVOT J EJNFDSFT EF B I B M 0SGFØ #BEBMPOÓ

$".1*0/"5 %& #3&", %"/$& 74 $$ -B $PMJOB %JTUSJDUF J FMT KPWFT EF M FTDPMB EF #SFBL %BODF -B $PMJOB B MFT I BM $$ -B $PMJOB

%JTTBCUF

$".1*0/"5 01&/ $"5"-6/:" #&/µ'*$ %& ,:0,64)*/ B QBSUJS EF MFT I BM 1PMJFTQPSUJV EF -MFGJË -B DPNQFUJDJØ SFVOJSË FTQPSUJWFT EF OJWFMM JOUFSOBDJPOBM 5PUB MB SFDBQUBDJØ FOUSBEB å QFSTPOB

BOJSË EFTUJOBU B MB 'VOE #BEBMPOB DPOUSB FM DËODFS

&YDVSTJØ

%VSBOU MB TFUNBOB 4PQBS

401"3 ".# &- 1*"/*45" "- #&35 (6*/07"35 BM 3FTUBVSBOU -B 4BSHBOUBOB D 4BOU 4FCBTUJË

EJNBSUT EF OPWFNCSF B MFT I 3FDPMMJS UJRVFUT EJNFDSFT E PDUVCSF J EJNFDSFT EF OPWFNCSF D $BOPOHF #BSBOFSB QPSUB

EF B I QMBDFT MJNJUBEFT

41035 $*$-*45" #²56-0 +PWF MMBS FTDBMB MPDBM 4U "OESFV EF -MBWBOFSFT LN 4PSUJEB IPSFT " .BTOPV .BUBSØ $BMEFUFT 5PVSNBMFU 4U 7JDFOÎ EF .POUBMU 5 .BUBSØ 1SFNJË .POU HBU 5JBOB $BNÓ EFM 'SBODFTPT 1PNBS &M NBUFJY EJB GPUP PGJDJBM MMPD QFS EFUFSNJOBS .ÏT JOGP BM MPDBM TPDJBM

$VSTPT

$63404 (3"56¸54 46#7&/ $*0/"54 1&3 .*44 7"/& 4 - *OJDJBDJØ B M FTUÒUJDB J B MB QFSSV RVFSJB GBDJBM NBOJDVSB QFEJDVSB NBRVJMMBUHF FUD *OGPSNBDJØ

.ÞTJDB

$63404 16/5&4 %& $0*9¶ " UPUT FMT DFOUSFT DÓWJDT EF #BEBMPOB 5PUT FMT EJFT EF MB TFUNBOB %JGFSFOUT IPSBSJT "TTPD 1VOUBJSFT

.Á4*$" &/ 7*6 " MFT I B MB TBMB E BDUFT EF MB $PPQFSBUJWB MB .PSBM

&YIJCJDJØ $BWBMMT

$1/- $63404 $"5"-® %JGF SFOUT OJWFMMT XXX DQOM DBU CBEB MPOB P

" &9)*#*$*» %& $"7"--4 %& 4"/5 $3*45 EF $BO $BCBOZFT B MFT I B M "W 1VJHGSFE

2VF OP TF UhFTDBQJ %JWFOESFT &YQPTJDJØ EFM HSVQ Ò BOJWFSTBSJ EFM (SVQ EF #FMMFT "SUT EFM .VTFV .VTFV EF #BEBMPOB

QBH JOEE

%JTTBCUF +BN -B $PMJOB A$BNQJPOBU EF CSFBL %BODF WT $FOUSF DÓWJD -B $PMJOB

727 %DGDORQD

.*44"5(& %& - "*(6" %& ."

4"36 &.050 'PUPHSBGJFT 'JOT EJMMVOT EF OPWFNCSF BM $$ $BO $BOZBEØ

$$ 5033& .&/"

"DUJWJUBUT 5BMMFST BDUJWJUBUT JOGBO UJMT DVSTPT FUD

&TQPSU

.6/*$*1*4 26& '"/ &6301" GJOT EJWFOESFT EF OPWFNCSF BM $$ 4BOU 3PD

PRQWJDW

5"--&3 %& $04563" * $03"- EJWFOESFT (FOU (SBO .PSFSB $$ .PSFSB

&4$0-" 5&//*4 5"6-" -B #BEB MPOFOTF *OTDSJQDJØ PCFSUB BOZT %JNBSUT J EJKPVT EF B IPSFT &T OFDFTTJUFO OFOFT QFS DPNQMFUBS M FRVJQ GFNFOÓ $ 4BOU "OBTUBTJ O 5FM

%JKPVT

%&- (361 µ "/*7&34"3* %&- (361 %& #&--&4 "354 'JOT EJVNFOHF EF OPWFNCSF BM .VTFV EF #BEBMPOB

$MVC EF MFDUVSB

40#3& - ".03 %& +0"/ #" 33*- B MFT I B MB #JCM 5JSBOU MP #MBOD

$VSTPT

$PODVST 1PFTJB J /BSSBUJWB

" 77 *3*4 40- $"4"(&.&4 $0/70$" *** $0/$634 %& 10& 4*" * /"33"5*7" 1&3 " 1&3 40/&4 (3"/4 )J IB QSFNJT QFS B MFT EVFT NPEBMJUBUT &OWJBS MFT PCSFT EFM EJMMVOT BM EJWFOESFT EF OPWFNCSF .ÏT JOGP UBSEBT o UPU FM EJB

&TQMBJT

&41-"* %*1-0%0$64 %JTTB CUFT EF B I /FOT FT EF B BOZT & NBJM FTQMBJEJQMPEPDVT!HNBJM DPN P

$&/53& % &41-"* "41*3"/5"5 %& 4"/5 +04&1 1FS JOGBOUT J KPWFT EF B BOZT EJTTBCUFT EF B I BMT MPDBMT EF TPUB MB QBSSÛRVJB 4U +PTFQ *OGPSNBDJØ P XXX BTQJSBOUBU DPN BTQJSBOUBU!BTQJSBOUBU DPN

"DUJWJUBUT

"TTPD %JTUSJDUF "QBUYF

$634 &4$"-"%" &/ 30$" GJOT EJKPVT E PDUVCSF 1MB DFT MJNJUBEFT $FOUSF &YDVSTJP OJTUB #BEBMPOB P DFCBEBMPOB!DFCBEBMPOB PSH

$PODFSU

(361 .&/;*" .&5"- B MFT I B MB 4BMB 1BV $BTBMT EF .POUHBU .ÏT JOGP XXX NZTQBDF DPN NFO[JBCBOE

$03"- */'"/5*- %& - 03'&» #"%"-0/¶ "ESFÎBU B OFOT FT EF B BOZT 5FM P PSGFPCBEBMPOJ!ZBIPP FT IUUQ DPSBMJOGBOUJMPSGFPCBEBMPOJ CMPHTQPU DPN

"DUJWJUBUT $FOUSFT

%JMMVOT &TQFDUBDMF *OGBOUJM

BOZT

-" $"45"/:"%" * "-53&4 $0/ 5&4 %& 5"3%03 " DËSSFD EF $JB &TQJOB EF MB 4BSEJOB B MFT I B MB 4BMB 1BV $BTBMT EF .POUHBU

$ÓWJDT PDUVCSF

$"/ $"#"/:&4

"DUJWJUBUT 5BMMFST DVSTPT DBGÒT UFSUÞMJB FUD

WLDQD

$$ %"-5 -" 7*-"

"DUJWJUBUT 5BMMFST DVSTPT BDUJWJUBUT OFOT J KPWFT USPCBEFT SBEJPBGFD DJPOBUT FUD

%JWFOESFT

$$ .03&3"

"DUJWJUBUT 5BMMFST BDUJWJUBUT OFOT J KPWFT FUD

&- .*5& % "-#²/*; YFSSBEB TPCSF *TBBD "MCÏOJ[ B DËSSFD EF +PTFQ .BSJTUBOZ J .ÛOJDB 1BHÒT " MFT I B MB #JCM $BO #BSBUBV

$$ -" $0-*/"

"DUJWJUBUT 5BMMFST UFBUSF B M PDUVCSF YFSSBEB FUD

&YQPTJDJPOT

$$ $"/ $"/:"%»

"DUJWJUBUT 5BMMFST DVSTPT BD UJWJUBUT J UBMMFST KPWFT BDUJWJUBUT JOGBOUJMT

0-*4 %& $"3.& 30%» GJOT EJ NBSUT E PDUVCSF BM $$ $BO $BCBOZFT

%JWFOESFT

"DUJWJUBUT *OGBOUJMT

#"--4 %& 4"-» UFBUSF NF E J U B D J Ø F U D . Ï T J O G P EJTUSJUPBQBDIF!IPUNBJM DPN

9FSSBEB

%JKPVT

5BMMFS .ËHJB

#0$"#"%"5 "NC FM .ËHJD $BN CSBT OFOT FT B QBSUJS EF BOZT B MFT I B MB #JCM $BO #BSBUBV

%JTTBCUF

$PODFSU A%SFBN 5IFBUFS BM 1BMBV .VOJDJQBM E &TQPSUT EF #BEBMPOB 1BMBV .VOJDJQBM E &TQPSUT

727 %DGDORQD

QBH JOEE

HVSDL F

5BMMFST

%JVNFOHF &YIJCJDJØ $BWBMMT EF 4BOU $SJTU EF $BO $BCBOZFT "77 4BOU $SJTU EF $BO $BCBOZFT J 0.%

HVSDL F

FLQHPHV

&M JNBHJOBSJP EFM EPDUPS 1BSOBTTVT

.JMMFOOJVN

4BX 7*

-B DIJDB RVF TP×BCB DPO VOB DFSJMMB Z VO CJEØO EF HBTPMJOB

&M %S 1BSOBTTVT DPO TV FY USBPSEJOBSJP TIPX BNCVMBOUF i*NBHJOBSJPw PGSFDF BM QÞCMJDP MB PQPSUVOJEBE EF FOUSBS FO VO VOJWFSTP NBSBWJMMPTP QBTBOEP B USBWÏT EF VO FTQFKP NÈHJDP 1FSP FM %S 1BSOBTTVT FTUÈ NBMEJUP QPS VO PTDVSP TFDSF UP )BDF NJMFT EF B×PT IJ[P VOB BQVFTUB DPO FM %JBCMP .S /JDL FO MB RVF HBOØ MB JONPSUBMJEBE %JS 5FSSZ (JMMJBN 6, Z $BOB EÈ %SBNB GBOUÈTUJDP *OUFS )FBUI -FEHFS $ISJTUP QIFS 1MVNNFS -JMZ $PMF

-JTCFUI 4BMBOEFS FT MB NVKFS NÈT CVTDBEB EFM QBÓT %PT DPMBCPSBEPSFT EF .JMMFOOJVN B QVOUP EF TBDBS B MB MV[ VO FTDÈOEBMP TPCSF FM DPNFSDJP TFYVBM FO 4VFDJB IBO TJEP CSVUBMNFOUF BTFTJOBEPT Z MBT IVFMMBT EF -JTCFUI FTUÈO FO FM BSNB IPNJDJEB /BEJF FT DB QB[ EF FODPOUSBS B -JTCFUI %JS %BOJFM "MGSFETPO 4VFDJB 5ISJMMFS *OUFS .JDIBFM /ZRWJTU /PPNJ 3BQBDF "OOJLB )BMMJO

&M EFUFDUJWF .BSL )PGGNBO MP HSB TBMJS EF MB DBKB EF DSJTUBM TJO EFKBS OJOHÞO SBTUSP IBTUB ÏM QPS MB NVFSUF EFM BHFOUF 4USBIN -PT GPSFOTFT BÞO OP IBO IB MMBEP FM DVFSQP EF 4USBIN DVBOEP VO DIJDP KPWFO MMBNBEP (BSFUU BQBSFDF FO FTDFOB TF USBUB EFM ÞMUJNP TVQFSWJWJFOUF EF VO OVFWP NBDBCSP KVFHP JEFBEP QPS 1V[[MF 4FSÈ FM QSP QJP )PGGNBO RVJFO TF FODBSHVF EF TV JOUFSSPHBUPSJPy %JS ,FWJO (SFVUFS U 64" 5ISJMMFS UFSSPS *OUFS $PTUBT .BOEZMPS .BSL 3PMTUPO #FUTZ 3VTTFMM

" MB EFSJWB

&EÏO BM 0FTUF

)PNF {EVMDF IPHBS

"OOB SFHSFTB EF «GSJDB EPO EF IB USBCBKBEP EPT B×PT FO VOB 0/( Z TF DPOUSBUB DPNP HVBSEJB EF TFHVSJEBE FO VO FYDMVTJWP DFOUSP EF TBMVE "M SPNQFS DPO TV DIJDP F JSTF EF DBTB VO DPNQB×FSP EF USBCBKP MF EFKB VOB BVUPDBSBWBOB DP NP WJWJFOEB QSPWJTJPOBM 1BTB VOBT TFNBOBT FO VO DBNQJOH EFTJFSUP Z EFTQVÏT TF JOTUBMB FO FM BQBSDBNFOUP EF VOB ÈSFB EF TFSWJDJP EF MB BVUPQJTUB %JS 7FOUVSB 1POT &TQB×B %SBNB *OUFS .BSÓB .PMJOT 3PHFS $PNB 'FSOBOEP (VJMMÏO

"M JHVBM RVF FO i-B 0EJTFBw FM .BS &HFP FT FM FTDFOBSJP EPOEF EJTDVSSFO MBT BWFOUVSBT EF &MÓBT OVFTUSP QSPUBHPOJTUB &O FTBT NJTNBT BHVBT CBKP FM NJTNP TPM Z MPT NJTNPT DJFMPT DPNP FO FM BNBOFDFS EF MB DJWJMJ[BDJØO %FTQVÏT EF JOOV NFSBCMFT JODJEFOUFT Z BDDJEFO UFT VOB FTDBMB FO FM QBSBÓTP Z VOB FTUBODJB FO FM JOm FSOP FM NÈHJDP m OBM EF TV QFSJQMP TF EFTBSSPMMB FO 1BSÓT %JS $PTUB (BWSBT 'SBODJB *UBMJB Z (SFDJB %SBNB *OUFS 3JDDBSEP 4DBNBSDJP 6MSJDI 5VLVS +VMJBOF ,ÚIMFS

&O VOB DBTB EF DBNQP FO NFEJP EF MB OBEB WJWF VOB QFDVMJBS GBNJMJB "JTMBEPT EFM NVOEP IBO MPHSBEP FM FRVJ MJCSJP DSFBOEP VO BNCJFOUF FO FM RVF SFJOB MB BMFHSÓB Z MB BSNPOÓB GBNJMJBS 1FSP MB BQFS UVSB EF VOB BVUPQJTUB BCBO EPOBEB RVF QBTB B QPDPT NFUSPT EF TV DBTB DPOWFSUJSÈ TV FYJTUFODJB FO VOB JOHFOJPTB DBSSFSB QPS BEBQUBSTF BM NVO EP FYUFSJPS %JS 6STVMB .FJFS 4VJ[B 'SBO DJB Z #ÏMHJDB %SBNB *OUFS *TBCFMMF )VQQFSU 0MJWJFS (PVSNFU "EÏMBÕEF -FSPVY

QBH JOEE

727 %DGDORQD

&TP EFCJØ QFOTBS 8PPEZ "MMFO DVBOEP SPEØ FTUB QFMÓDVMB 1PS RVF EFTQVÏT EF VOBT DVBOUBT SPEBEBT GVFSB EF /VFWB :PSL Z TJO TFS DPNFEJBT IB WVFMUP B TV HFOVJOP F JEFOUJm DBCMF DJOF "TÓ RVF TJ MF GVODJPOBCB QPSRVF OP SFQFUJSMP %JDF FM QSPQJP "MMFO RVF FTUF FT VO HVJØO FTDSJUP IBDF NÈT EF B×PT Z SFUPDBEP QBSB MPT UJFN

QPT RVF DPSSFO : "MMFO OP TF BOEB DPO SPEFPT QBSB FNQBUJ[BS DPO FM QÞCMJDP EJSFDUBNFOUF OPT NFUF FO MB QFMÓDVMB IBCMÈOEPOPT FO CPDB EF -BSSZ %BWJE EF UÞ B UÞ FO VOB OBSSBDJØO TVSSFBMJTUB EF QFSTPOBKFT TJUVBDJPOFT Z EJÈMPHPT Z NÈT EJÈMPHPT : NÈT EJÈMPHPT &M QSPUBHPOJTUB FT #PSJT :FMM OJLPGG -BSSZ %BWJE VO NBUF NÈUJDP Z QFOTBEPS FHPDÏOUSJDP NBOJÈUJDP Z UPEP MP BDBCBEP FO oJDP 6O BNBSHBEP DPKP USBT VO JOUFOUP EF TVJDJEJP EFM RVF DØNP EJDF ÏM NJTNP i4BMJØ NBM B MB WJTUB FTUÈwy &T FM ÈMUFS FHP EF 8PPEZ "MMFO 1PS PUSB QBSUF UFOFNPT B .F MPEJF &WBO 3BDIFM 8PSE FM DPNQMFUP /ÏNFTJT EF #PSJT EFM TVS JODVMUB SFMJHJPTB JSSJUBOUF QFSP BEPSBCMF &TUPT EPT QFSTPOBKFT TF UPQBO Z B QBSUJS EF BIÓ MB QFMÓDVMB WB QSFTFOUÈOEPOPT B QFSTPOBKFT DBEB WF[ NÈT TVSSFBMJTUBT Z TV FWPMVDJØO B MP MBSHP EF MB QFMÓDV

&RQFXUVR

&, 1([/ $ .

MB 4J MB DPTB GVODJPOBy &M UÓUVMP UJFOF WBSJPT TJHOJm DBEPT QBSB MP CVFOP Z QBSB MP NBMP RVF TF WF SFn FKBEP B MP MBSHP EFM m MN 4J MB DPTB GVODJPOB QVFEF TFS BWFOUVSBSTF B BMHP Z TJ WB CJFO BEFMBOUF 4J MB DPTB GVODJPOB QVFEF TFS MP DPOUSBSJP QBSB RVF BWFOUVSBSNF TJ MB DPTB GVODJPOB UBM Z DØNP FTUÈ &O SFTVNFO EF FTP WB MB QFMÓDVMB 6OB QFMÓDVMB SFQMFUB EF CVFOPT EJÈMPHPT JOHFOJPTPT Z MBSHPT 'SBTFT MBQJEBSJBT FO DBEB VOP EF FMMPT "M QVSP FTUJMP "MMFO

HVSDL F

-B $SÓUJDB 4J MB DPTB GVODJPOB

1BSB FM RVF MF HVTUF FTF FT UJMP &T VO BVUP IPNFOBKF EFM EJSFDUPS 1BSB FM RVF OP MF HVTUF FTF FTUJMP &T VO BVUP IPNFOBKF EFM EJSFDUPS "MMFO TF IB RVJUBEP FTB FTQJOJUB RVF UFOÓB EFTEF IBDF B×PT "EFNÈT UBNCJÏO UFOESÈ RVF DPNFS 3VCÏO 5BNBZP UBNBZP@CEO!IPUNBJM DPN

5$

#BEBMPOB BDJOF .ËHJD H F .

T MP O F P MUJNP FTUSFO ","3" FM Þ Y S F W TPSUFP EF FOUSBE F D UF {5F BQF BT *OGPSNBDJØO TPCSF FM DPODVSTP $BEB KVFWFT TPSUFBNPT FOUSBEBT QBSB BDVEJS B WFS DVBMRVJFS QFMÓDVMB FO MPT DJOFT .FHBDJOF .ËHJD #BEBMPOB 4J SFTVMUBT TFS VOP EF MPT HBOBEPSFT QPESÈT WFS DVBMRVJFS QFMÓDVMB FO DVBMRVJFS TFTJØO EF MVOFT B KVFWFT NFT EFTEF MB GFDIB EFM TPSUFP

{$ØNP TBCFS TJ IBT SFTVMUBEP HBOBEPS $BEB TFNBOB TBMESÈO MPT HBOBEPSFT EF MBT FOUSBEBT FO FM BQBSUBEP EF DJOFT EF MB TFDDJØO &TQBJ$ EPOEF QVCMJDBSFNPT MPT OPNCSFT EF MPT QSFNJBEPT

CBEBMPOB!FMUPUEJHJUBM

{$ØNP QBSUJDJQBS

DPN

MMB EF NFHBDJOF &ODVFOUSB MB FTUSF T FO VODJPT BQBSFDJEP FO VOP EF MPT BO M OPNCSF EF MB T F OP WÓB &O B JTU FTUB SFW F FM OUF EPOEF BQBSFD FNQSFTB BOVODJB EBUPT EF T Z BUP T E UV UB OÞNFSP EF SFWJT P DPSSFP FMFDUSØOJD DPOUBDUP B OVFTUSP N JHJUBM DP CBEBMPOB!FMUPUE

(BOBEPSFT EFM TPSUFP EF FOUSBEB EF MB SFWJTUB . $BSNFO -PSFOUF %B[B *TBCFM 3BNÓSF[ .PSB %BWJE %VSBOZ -BSB

727 %DGDORQD

QBH JOEE

HVSDL F

QRYHWDWV PÙVLFD

1FS (JOB EF 5FSB

OOLEUHV

;1 .# 6'0)1 2QRWNCT 5QPIU % F T Q S Ï T E V O E J T D DPN * "N OPU BGSBJE PG ZPV BOE * 8JMM CFBU Z P V S " T T EF GB USFT BOZT KB UFOJB HBOFT EF NÏT E BRVFTU USJP RVF EFT EFMT RVF WB EPOBOU (VFSSB &M EJTD TFHVFJY MB MÓOFB IBCJUVBM EF MB CBOEB TPCSFUPU EFT EFM EJTD BOUFSJPS BNC BJSFT NÏT MMVNJOPTPT TFOTF BCBOEPOBS FM SPDL J BRVFMM UPD RVF SFDPSEB MB 7FMWFU 6OEFSHSPVOE

QBH JOEE

"OUFT EF RVF DVFOUF EJF[ 'JUP Z m UJQBMEJT )VNBOPJE 5PLJP )PUFM %FTBm BOEP MB HSBWFEBE $IFOPB 1BTJØO -V[ $BTBM 5IJT JT VT #BDLTUSFFU #PZT

j6OB E F MFT DPTFT RVF NÏT TPSQSFOFO EF MB WFMMB "OHMBUFSSB ÏT RVF FODBSB T IJ QPEFO USPCBS GBNÓMJFT RVF WJVFO B MB NBUFJYB DBTB RVF WBO DPOTUSVJS FMT TFVT BWBOUQBTTBUT TFHMFT FOSFSF &MT (SPQF EF MB DBTB QBJSBM (SPQF )BMM TØO VOB E BRVFTUFT GBNÓMJFT x

-MJTUB EF DBOÎPOT &TDMBWP EF UVT CFTPT %BWJE #JTCBM * LOPX ZPV XBOU NF 1JUCVMM * HPUUB GFFMJOH #MBDL &ZFE 1FBT -PCB 4IBLJSB )BMP #FZPODÏ

.# /'8# /#4' 6CJCT $GP ,GNNQWP '/274+'5 " MB NFWB NB SF 5BIBS #FO +FMMPVO EJCVJYB FM SFUSBU JOUFOT J EPMPSØT EFMT EBSSFST BOZT EF MB WJEB EF MB TFWB NBSF BOZT EVSBOU FMT RVBMT FMMB WB QBUJS VOB NBMBMUJB RVF MJ BGFDUBWB EJSFDUBNFOU MB NFNÛSJB J MB GFJB WJVSF EFMT SFDPSET EFM TFV QBTTBU NÏT RVF OP QBT EF MFT FYQFSJÒODJFT EFM QSFTFOU

-MJTUFT GBDJMJUBEFT QFS 1SPNVTJDBF

OOLEUHV &MT NÏT WFOVUT 0MPS EF $PMÛOJB 4ÓMWJB "MDÈOUBSB

'.5 ,1%5 &' .# (#/ 5W\CPPG %QNNKPU '564'..# 21.#4

6*' &1&15 6KOG VQ FKG %FTQSÏT EF 7JTJUFS VO EJTD FMPHJBU J B D M B N B U QFS UPUIPN B R V F T U B CBOEB OPSE BNFSJDBOB UPSOB BNC VO EJTD QPUTFS NJMMPS J UPU ²T VO EJTD NÏT USBORVJM NÏT QFOTBU J OP UBO WJTDFSBM $BEB DBOÎØ FY QMPSB VOB HSBO WBSJFUBU EF TPOT J UFYUVSFT DPOKVNJOBOU HVJUB SSB J WFV %FTUBRVFO DBOÎPOT DPN +PEJ -POHGPSN P " UJNF UP EJF

-MJTUB EhËMCVNT

'.5 )412' VQO 5JCTRG %1.7/0#

4#;0#.& %1.1/ 'XQECEKÎP 6 O E F M T USPNQF UJTUFT NÏT EFTUBDBUT EFM OPTUSF QBÓT FOT PGFSFJY VO EJTD EF KB [[ J n BNFOD BNC VO JNQPSUBOU USFCBMM BM EBSSFSF $PMPN DBO UB DPNQPO J T BDPNQBOZB EF HSBOT NFTUSFT EFM n BNFOD J EFM KB[[ FO VO EJTD RVF WBM MB QFOB FTDPMUBS NÏT E VOB WFHBEB QFS FOUSBS FO VO VOJWFST QMF E IJTUÛSJFT J FNPDJPOT

PÙVLFD

1FS 4BMUBNBSUÓ -MJCSFT

.FNÛSJFT UFNQT EF DPOUSVJS +PSEJ 1VKPM -B JTMB CBKP FM NBS *TBCFM "MMFOEF

1BOFN ÏT VOB OBDJØ DSFBEB TPCSF MFT SVÕ OFT EFM RVF GB UFNQT WB TFS /PSE "NÒSJDB FM TFV QPEFS J MB TFWB SJRVFTB FT DPODFOUSFO B MB DBQJUBM SPEFKBEB QFS EJT USJDUFT NBSHJOBMT -B DBQJUBM ÏT EVSB J DSVFM J NBOUÏ TPUNFTPT B MB SFTUB EF EJTUSJDUFT PCMJ HBOU MPT B FOUSFHBS DBEB BOZ B EPT DJVUBEBOT DPN B USJCVU 6O OPJ J VOB OPJB FOUSF J BOZT IBVSBO EF QBSUJDJQBS FO OPN EFM TFV EJTUSJDUF B MB DFMFCSBDJØ BOVBM EFMT +PDT EF MB GBN VOB MMVJUB B WJEB P NPSU

-MJTUB GBDJMJUBEB QFS 4BMUBNBSUÓ -MJCSFT

$BOPOHF #BSBOFSB #BEBMPOB

XXX TBMUBNBSUJ DPN TBMUBNBSUJ!TBMUBNBSUÓ DPN

727 %DGDORQD

HO WHX FDUUHU

$BSSFS EF MB *OEFQFOEÒODJB #VGBMË t 2VBMJUBU JOEFQFOEFOU &O QPMÓUJDB TJUVDBDJØ EhVOB DPMrMFDUJWJUBU VO QPCMF P VO QBÓT OP TPUNFTPT B MhBVUPSJUBU EhBMUSFT &M OPN BMrMVEFJY TFOT EVCUF B MB JOEFQFOEÒODJB BT TPMJEB EFTQSÏT EF MB JOWBTJØ OBQPMFÛOJDB RVF EPOË MMPD B MB HVFSSB EFM 'SBODÒT P MB *OEFQFOEÒODJB

-B EBUB EF EFOPNJOBDJØ J MB [POB PO FT USPCB FM DBSSFS FO

MB RVBM BMUSFT OPNT SFDPSEFO HFTUFT EF MB HVFSSB FTNFOUB

EB DPN #SVD P #BJMÒO BJYÓ IP JOEJRVFO

"#3"4 . $"33&3"4 . /*&50 % &MT DBSSFST EF #BEBMPOB .VTFV EF #BEBMPOB J $POTPSDJ QFS B MB /PSNBMJU[BDJØ -JOHàÓTUJDB

<L 1 < L H< 6

&c P 7

H

" &1 H LTL ûØ Ø1éG ¼TØÐgÆ Ð

'JORVFT #MBODI 3PJH 4 -

Ė uL ¯āċ ÆðĖ¼Æ û ā ÐĖ ûØā g

6gû¼g P û āg Hؼ¯ » .Øā é ÆgÐ ¹ Hؼ¯

P Æí Ôď ď ďĬ « » Ôď ď Ô Ĭć ­ď ĉí ØÐðĖ āċg áĬ« xg¼ģØā » Ĭ ÔáĔ 1<7

F&L<L 7 1GT&1 H 1"3,*/( ;0/" 3*&3" ."5".0304 QMB[B BODIB DPDIF QFRVF×P å .&4

;0/" 1&1 7&/563" QJTP N IBCT Z FTUVEJP DPNFEPS BNQMJP DPDJOB Z CB×P NPEFSOPT B B DBMFGBD SFBM T BTD å .&4

1"3,*/( ;0/" .*26&- 4&37&5 QMB[B BNQMJB DPDIF Z NPUP

å .&4

;0/" $ (6*'3² QJTP N IBCT NBUSJ Z JOEJW DPNFEPS N D TBMJEB B CBMDØO DPDJOB OVFWB B FTUSFOBS TJO BTD å .&4

;0/" .0/("5 QJTP N IBCT DPNFEPS N DPDJOB Z CB×P SFGPSNBEPT FYUFSJPS SFBM 5PEP FMÏDUSJDP å .&4

;0/" "-'0/40 9** QJTP N IBCT DPDJOB BNQMJB CB×P DPNQMFUP UFSSB[B EF N &YUFSJPS å .&4

;0/" 4"/5 "%3*" ÈUJDP N IBCT UFSSB[B N DPDJOB Z CB×P QFRVF×PT B B FYUFSJPS SFBM T BTD å .&4 ;0/" $"4"(&."4 QJTP N IBCT D BSNBSJP FNQPUSBEP DPNFEPS BNQMJP DPDJOB QFRVF×B CB×P DPNQMFUP å .&4 ;0/" --*±" %& .6/5 UPSSF B WJFOUPT N IBCT DPDJOB Z CB×P OVFWPT å .&4 ;0/" --&'*« QJTP N IBCT DPNFEPS BNQMJP D CBMDØO DPDJOB FO CVFO FTUBEP CB×P DPNQMFUP å .&4 ;0/" 1&1 7&/563" QJTP N IBC NVZ BNQMJB DPNFEPS DPDJOB CB×P DPO Q EVDIB CBMDØO T BTDFOTPS NVZ MVNJOPTP å .&4

727 %DGDORQD

QBH JOEE

;0/" "7 .03&3" QJTP IBCT NBUSJ Z JOEJW DPDJOB BNQMJB CB×PT NPEFSOPT Z DPNQMFUPT DPNFEPS N CBMDØO N 5PEP FYUFSJPS å .&4 ;0/" -" 4"-6% QJTP N IBCT NBUSJ Z JOEJW DPNFEPS Z DPDJOB BNQMJPT CB×P DPNQMFUP B B DBMFG 5PEP FYUFSJPS å .&4 ;0/" $ $".&-*" QJTP N IBCT CB×P DPNQMFUP BTFP TBMØO N Z DPNFEPS UFSSB[B N TFNJ BNVFCMBEP 5PEP FYUFSJPS å .&4

;0/" $ (3"- 8&:-&3 QJTP N IBCT NBUSJNPOJP D WFTUJEPS Z QM BMUJMMP CBMDØO UFDIPT NBEFSB DPNFEPS BNQMJP DPDJOB Z CB×P NPEFS OPT B B SFBM T BTD å .&4 ;0/" #"-%0.&30 40-« QJTP N IBCT DPNFEPS N CB×P DPNQMFUP B B DBMFG CBMDØO FYUFSJPS å .&4

;0/" $ 503504" DBTB QMBOUBT N TFNJ OVFWB IBCT CB×PT Z BTFP BTDFOTPS QSJWBEP QBSRVJOH JODMVJEP 4FNJ BNVFCMBEP å .&4

F&L<L 7 ] 7P ;0/" $ 10/&/5 QJTP IBCT DPNFEPS N DPDJOB Z CB×P NPEFS OPT CBMDØO TJO BTD å .*--

;0/" 1&1 7&/563" QJTP N IBCT D BSNBSJP FNQPU

$PDJOB DPNFEPS UJQP PGGJDF CB×PT CBMDØO B B DBMFG FYUFSJPS " FTUSFOBS å .&4

;0/" $&/530 QJTP IBCT CB×P NPEFSOP DPDJOB BSSFHMBEB TJO BTD 3FGPSNBEP IBDF B×PT .*--

;0/" 13&4*%&/5 $0.1"/:4 QJTP N IBCT DPNFEPS N DPDJOB Z CB×PT NVZ CJFO DPOTFS WBEP å .&4

;0/" ."5"3» QJTP IBCT DPNFEPS N DPDJOB Z CB×P EF PSJHFO BTDFOTPS DPNQM FYUFSJPS B QSJNFSB MJOFB EF NBS å .*--

1. .')+#6

$PM MFHJBU OVN

$PM MFHJBU O

1< 1 L 7 ] 7P ` 1GT&1 H 1"3,*/( "7 ."35* 16+0- DPDIF HSBOEF å ;POB (3"/ -"/% OBWF EF N UPUBM TFNJ OVFWB NVZ MVNJOPTB å ;POB $ $"-%&3»/ %& -" #"3$" MPDBM EF N EJÈGBOP BTFP å ;POB $ #"-.&4 MPDBM EF N

N EF QBUJP å NFT ;POB $ $&37"/5&4 MPDBM EJÈGBOP N N EF BMUVSB BTFP å NFT ;POB --03&%" MPDBM N BTFP QBUJP N TBMJEB EF IVNPT " &453&/"3 å NFT ;POB $ "-'0/40 9*** MPDBM EF N FO OJWFMFT DPDJOB B B CB×P TVFMP QBSRVFU 0'*$*/" "-50 45"/%*/( å NFT ;POB $ 13*. N FN QMBOUB NBT N EF TPUÈOP ;0/" $0.&3$*"- å NFT

OD OODU

NC NNCT

GHFRUDFLÓ FRQVHOOV PRELOLDUL 5HIRUPHV MDUGLQHULD

.PPWF QBQFS FM QBQFS NBHOÒUJD 0 DPN DBOWJBS EF QPTJDJØ J FYUSFVSF FM OPTUSF QBQFS EF MB QBSFU EhVOB GPSNB SËQJEB -MBS t4J VT BHSBEBSJB QPEFS D BOW J BS E F E F D PS BD J Ø U BO GËDJMNFOU DPN EF DBNJTB M JOOPWBEPS DPODFQUF EF QB QFS NBHOÒUJD i.PPWF QBQFSw ÏT QSPCBCMF RVF VT FODBOUJ 0CMJEB U EFM UFEJØT FTGPSÎ EF USFVSF P QPTBS FM WFMM QBQFS QJOUBU BDBCBOU BNC FMT EJUT

6(55$//(5

/] PKX \OZK\KMSYX] K NYWSMSVS NO \OSbO] NO PO\\Y ZY\^O] PY\TK ZKXc] O^M MPF VHUUDOOHU#JPDLO FRP

7(/ L

QMFOT EF DPMB IPSFT EF GFJOB FUD -B JOTUBM MBDJØ BNC FM i.PPWF QBQFSw ÏT NPMU TFO [JMMB J SËQJEB OPNÏT DBM SFB MJU[BS TFO[JMMT QBTTPT &OHBOYB VO JNBOU EF DJOUB B MB QBSFU $PMtMPDBS FM QBQFS .PPWF QBQFS JNQSÒT B TPCSF EF

M JNBOU J KB FTUË DPMtMPDBU %FTQSÏT EFQFOFOU EFM UFV FT UBU E ËOJN QPESFV DBOWJBS MB WPTUSB EFDPSBDJØ RVBO WPMFV OPNÏT DBOWJBU MB JNBUHF EF GPOT EFM QBQFS .PPWF QBQFS SFBMNFOU DBOWJBS MB EFDPSBDJØ E VOB IBCJUBDJØ NBJ OP IB FTUBU UBOU GËDJM

3$/(7$ /$03,67$

3,1725(6 352)(6,21$/(6

5HDOL]R WRGR WLSR GH UHIRUPDV &RFLQDV %DxRV 6XHORV 7HFKRV GH SODGXU 3LQWXUD 0XHEOHV GH FRFLQD 3XHUWDV GH LQWHULRU $UPDULRV HPSRWUDGRV (WF 3UHVXSXHVWRV VLQ FRPSURPLVR

Q V C M J D J U BU S F T V M U B U T Y M B U F WB F NQSFTB QBH JOEE

',5(&725, OODU

3BNCMB 4BOU +PBO B QSPQ EF $BO $BCBOZFT

7HO

7(/

$-"44&4 %& 3&45"63"$*» .0#-& * 1*/563"

5HSDUDFLyQ LQVWDODFLyQ \ PRWRUL]DFLyQ QR FREUDPRV GHVSOD]DPLHQWRV

2)(57$ 3LQWDPRV VX SLVR SRU ½

7HO

3(56,$1$6 - $

(&21Ð0,&26 \ GH &21),$1=$ $/7$ '(&25$&,Ð1 < 3,1785$ (1 *(1(5$/ 3LVRV HVFDOHUDV ORFDOHV

1*/503 130'&4*0/"- &$0/».*$0 )BDF UPEP UJQP EF QJOUVSBT FTUVDBEPT WFOFDJBOPT 1SFTVQVFTUPT TJO DPNQSPNJTP 5&-

1"-&5"

&-&$53*$*%"% '0/5"/&3*" Z 3&'03."4 &/ (&/&3"&DØOPNJDP 5&-

$PDJOBT CB×PT UFSSB[BT GBDIBEBT QPSUFSÓBT CBKBOUFT UFDIPT IVNFEBEFT FUD 1SFTVQVFTUPT TJO DPNQSPNJTP

"/6/$*"h5 &/ "26&45 %*3&$503* 1&3 1"3"6-&4 1&3 å ".# .*( 3&$6"%3& 1&3 å

5FM

727 %DGDORQD

-MBS t-B QSPNPDJØ E IBCJUBUHF QÞCMJD EFM DBSSFS $IVSSVDB EF .BUBSØ DPNQUB BNC VO TJTUF NB JOOPWBEPS E BQSPm UBNFOU EF M BJHVB RVF QFSNFU FTUBMWJBS FOUSF VO J VO EFM DPOTVN EPNÒTUJD &M TJTUFNB SFDVMM M BJHVB RVF FT QFSE QFM EFTBJHVB EF MB EVUYB J EF MB QJDB EFM MBWBCP QFS FOWJBS MB m OT B MB DJTUFSOB EFM WËUFS &M NBUFJY DJSDVJU JODMPV VO QSP DÏT EF m MUSBUHF FMJNJOBDJØ EF TÛMJET J EFQVSBDJØ NJUKBOÎBOU P[Ø - FNQSFTB RVF IB EFT FOWPMVQBU M JOWFOU ÏT 5FDOP MÛHJRVFT %PMØ HVBOZBEPSB EFMT QSFNJT EF MB JOOPWBDJØ EF .BUBSØ $SF!UJD 5PU J RVF BRVFTUT IBCJUBUHFT EFM DBSSFS $IVSSVDB TØO FMT TFVT QSJNFST DMJFOUT M FNQSFTB KB QFOTB FO JOUFSOBDJPOBMJU[BS TF J QSFWFV PCSJS NFSDBU B MB 9JOB J #SBTJM -B RVJO[FOB EF WFÕOT RVF T JOTUBMtMJO BMT IBCJUBUHFT QÞCMJDT EFM OÞNFSP EFM DB SSFS $IVSSVDB EF .BUBSØ DPO TVNJSBO HBJSFCÏ MB NFJUBU EF M BJHVB SFTQFDUF B MB SFTUB EF MB QPCMBDJØ 2VBO FT EVUYJO P FT SFOUJO MFT EFOUT B MB QJDB EFM MBWBCP M BJHVB RVF FO UFPSJB FT QFSE QFM EFTBJHVB FOUSBSË

OD OODU

6O FNQSFTBSJ NBUBSPOÓ DSFB VO TJTUFNB RVF QFSNFU BQSPm UBS M BJHVB EF MB EVUYB QFS MB DJTUFSOB EFM WËUFS

t " MB JNBUHF FM SFHJEPS E )BCJUBUHF EF Mh"KVOUBNFOU EF .BUBSØ 'SBODFTD 5FJYJEØ J FM HFSFOU EF M FNQSFTB *OOPWBDJPOT 5FDOPMÛHJRVFT %PMØ 9BWJFS %PMØ

FO VO DJSDVJU RVF MB EFQVSBSË J MB UPSOBSË GJOT B MB DJTUFSOB EFM MBWBCP &M QSPDÏT EF EFQV SBDJØ EF M BJHVB QBTTB QFS USFT GBTFT 1SJNFS T FMJNJOFO FMT TÛMJET EFTQSÏT FT EFJYB M BJHVB TFOTF QBSUÓDVMFT B USBWÏT E VO GJMUSF J GJOBMNFOU TF MJ BQMJDB P[Ø QFS BDBCBS EF EFQVSBS MB J EFJYBS MB MMJVSF EF CBDUFSJT WJSVT P GPOHT &M TFV JOWFO UPS 9BWJFS %PMØ DBMDVMB RVF M FTUBMWJ FT E FOUSF FM J FM J EFTUBDB RVF DPN RVF OP T BQMJRVFO QSPEVDUFT RVÓNJDT

FM TFV NBOUFOJNFOU ÏT NPMU CB SBU -B JOTUBMtMBDJØ E BRVFTU TJT UFNB DPTUB BM WPMUBOU EF FVSPT QFS IBCJUBUHF J EPOBEFT MFT TFWFT DBSBDUFSÓTUJRVFT ÏT GËDJMNFOU BQMJDBCMF UBOU B DBTFT VOJGBNJMJBST DPN B QSPNPDJPOT EF EFTFOFT EF QJTPT A/P ÏT VO TJTUFNB E BDVNVMBDJØ E BJHVB TJOØ VO DJSDVJU UBODBU EF SF BQSPm UBNFOU ²T JOEJGFSFOU FM OÞNFSP EF HFOU RVF M VUJMJU[J EFUBMMB %PMØ - BNPSUJU[BDJØ EF MB JOWFSTJØ FT DBMDVMB FO EPT BOZT J NJH

&GUCVCUEQU 8CEKCFQU RQ\QU #PWNCEKÎP HQUCU [ OCNQU QNQTGU 4GRCTCEKÎP [ OGLQTC FG CNECPVCTKNNCFQU

63(&/$*"4 'VFSB EF IPSBSJP -BCPSBM Z 'FTUJWPT

$BMJG FNQSFTBSJBM OÞN

$ 1SPHSFT /BWF *OEVTUSJBM #"%"-0/" 727 %DGDORQD

QBH JOEE

3&)"#*-*5"$*0/4 5*"/" OD OODU

('%#4' $55(*/26 (1 35(1'$6

3&'03.&4 &/ (&/&3"'"±"/&4 $0#&35&4 "326*5&$563"

'H YHVWLU QDSD \ SLHO % /GTEÂ P Ŗ$#&#.10#

5FM

+BSEJOFSJB t 4PWJOU EFTQSÏT EF GFS DFSUFT UBTRVFT BM KBSEÓ VT USPCFV BNC SFTUFT WFHF UBMT EF EJGFSFOUT DBUFHPSJFT J WPMVNT BNC MFT RVBMT OP TBCFV RVÒ GFS 5FOJV EJWFSTFT PQDJPOT QFS FYFNQMF JOUSPEVJS MFT SFTUFT EF TFHVFT EF MB HFTQB OFUFKB EF QBSUFSSFT J GVMMFT J UJHFT EF M IPSU B MB QJMB EFM DPNQPTU .PMUT KBSEJOFST GBO TFSWJS MFT SFTUFT EF TFHB DPN B FODPJYJ OBU QFS B MFT CBSEJTTFT EF GPSNB RVF B QPD B QPD WBO DSFBOU VOB DBQB FTQFTTB RVF GB E BÕMMBOU UÒSNJD J JNQFEFJY FM DSFJYFNFOU E BMUSFT FTQÒDJFT BMT QFVT EFMT FYFNQMBST RVF GPSNFO MB CBSEJTTB FODBSB RVF T IB EF UFOJS VO DFSU DPO USPM TPCSF MB TBMVU E BRVFTUFT SFTUFT KB RVF QPESJB TFS VO QVOU E JOGFDDJØ QFS GPOHT RVF QPESJB QSPWPDBS NPMUT QSP CMFNFT -B QJMB EF DPNQPTU ÏT FO QSJODJQJ FM NJMMPS MMPD PO EFJYBS MFT SFTUFT WFHFUBMT KB RVF M BDUJWJUBU EFMT CBDUFSJT USBOT GPSNBSË FM RVF FT DPOTJEFSB EFTGFUB FO VO QSPEVDUF JEFBM QFS B MB UFSSB &O FM DBT EF SFTUFT EF QP E B J E F U S B T Q M B O U B N F O U T E FYFNQMBST MMFOZPTPT TFN QSF QPEFV PQUBS QFS GFS MPT TFS WJS DPN B DPNCVTUJCMF MMFOZB QFS B YFNFOFJFT FUD

QBH JOEE

6GNH

SFIBCJMJUBDJPOTUJBOB!HNBJM DPN

2VÒ GFS BNC MFT SFTUFT WFHFUBMT

3FQBSBDJØO EF DBMEFSBT "JSF "DPOEJDJPOBEP $BMFGBDDJØO DBMFOUBEPSFT QMBDBT TPMBSFT 130(3"."4 %& ."/5&/*.*&/50

4&37*$*0 5²$/*$0 QSPZTFSDMJNB!QSPZTFSDMJNB DPN

50%"4

."3$"4 :4 63(&/$*"

`&O UJFNQP EF DSJTJT MB SFQBSBDJØO FT TV NFKPS JOWFSTJØO

PZ T SF I Q QMB[P T N P E `$P DPNP FMP FO

Z QÈHV

3&'03."4 &/ (&/&3"#-*/%"%"4 r */5&3*03&4 "-5*--04 r .63"-&4 $0$*/"4 r #"º04 1"326&5 r "-6.*/*0 .6&#-&4 " .&%*%" #BMEPNFS 4PMË #BEBMPOB 5FM 'BY

-*.1*&;"4 */% #"%"-0/" +0&7564+#.'5 ; 2#46+%7.#4'5 &'5#6#5%15 &' 67$'4 #5 21<15 (15#5 5 26+%#5 ' +070&#%+10'5

$FSWBOUFT #"%"-0/"

6SHFODJBT MBT IPSBT JODMVTP 'FTUJWPT 5FM

Z 'BY /0 5*3& 46 %*/&30 $0/4Á-5&/04

727 %DGDORQD

OD OODU

-MVNT 4IB %P -MBS t .JSBOU CSFVNFOU FO MFT JNBUHFT FT QPESJB QFOTBS RVF 4IB %P ÏT VOB FNQSFTB RVF QSPEVFJY EJTTFOZT EF MMVNT FO GPSNB EF n PD EF OFV B MB QBSFU P UBQFUT EF QVOUFT /P PCTUBOU BJYÛ EFTQSÏT E VOB JOTQFDDJØ NÏT QSPQFSB QP ESFN OPUBS RVF BM DFOUSF EF

DBEB VO E BRVFTUT QBUSPOT IJ IB VOB MMVN 5PUT FMT 4IB %P TPO GFUT B NË BNC NPMUT EFUBMMT NFUJDVMPTPT -B MMVN QSPKFDUB PNCSFT RVF DSFBOU VO CPOJD FTUBNQBU B MB QBSFU - ÞT JOOPWBEPS EF MB MMVN QFS 4IB %P OP UÏ QBSBMtMFM B MB DSFBUJWJUBU

&MT QBUSPOT SFQFUJUT EF MMVN J PNCSB RVF FT WFTTFO QFMT OPT USFT TPTUSFT J QBSFUT RVBO VOB MMVN 4IB %P T FODÏO TPO ÞOJD J BDPOTFHVFJYFO RVF MB NBUFJYB MMVN EFTUBRVJ 2VBMTFWPM DBTB NPEFSOB IBVSJB E BGFHJS VO UPD E PSJHJOBMJUBU J JOUSJHB BNC VO E BRVFTUT BDDFTTPSJT

"SRVJUFDUVSB 3FIBCJMJUBDJØO

0DQWHQLPLHQWR GH (GL¿ FLRV &RPXQLGDGHV GH 3URSLHWDULRV ,PSHUPHDELOL]DFLRQHV GH &XELHUWDV 5HIRUPDV GH 9HVWtEXORV 3LQWXUDV GH (VFDOHUDV )DFKDGDV 3DWLRV GH /XFHV %DMDQWHV GHVDJ HV &ROHFWRUHV

EF FEJm DJPT 3&)"#*-*5"$*»/ : $0/4536$$*»/ #0/"7*45" 4 -

352<(&726 < ',5(&&,Ð1 '( 2%5$

'BDIBEBT $VCJFSUBT

F % FTE

"W .BSRVÏT EF .POUSPJH #"%"-0/"

XXX SDCPOBWJTUB DPN

7HO )D[ 0yYLO VHUYLGHFR#DXQD FRP VHUYLGHFREDGDORQD#KRWPDLO FRP

"MVNJOJPT ("-*-&0 4 -

*/ 50 4 6& 4 * 40 1 6 4 13 & .130. $0

$BSQJOUFSÓB .FUÈMJDP $BSQJOUFSÓB .FUÈMJDB $ 3PHFS EF 'MPS O #"%"-0/" 1ÈHJOB 8FC XXX CBEBXFC DPN HBMJMFP & NBJM HBMJMFP!CBEEBXFC DPN r 4JTUFNBT &VSPQFPT FO WFOUBOB DPSSFEFSB QSBDUJDBCMF Z QFSJNFUSBM r .BNQBSBT EF CB×P FO UPEPT MPT DPMPSFT 727 %DGDORQD

QBH JOEE

5FM 'BY

r 1FSTJBOBT FO "MVNJOJP UÏSNJDP Z QMÈTUJDP r 7JESJP EF DÈNBSB $MJNBMJU B×PT HSBOUÓB

r 5PEP UJQP EF -BDBEPT DPMPSFT NBEFSBT

`/0 .& 5*3& QVFEP TFSMF ÞUJM

OD OODU

$ %SBD 5FOEB #BEBMPOB 5FM t

*M MVNJOBDJØ QFS B MB MMBS BNC BNQPMMFT EF WJ SFDJDMBEFT

JOGP!OPNFTQBSLFU DPN t XXX OPNFTQBSLFU DPN

t 1BSRVFU 7&/%" * 'MPUBOU */45"-r-"$*» t .BOUFOJNFOU %& 1"326&54 &TQFDJBMJTUFT &O 5BSJNFT * 3FTUBVSBDJPOT

t *OTUBMrMBDJPOT t 3FTUBVSBDJØ t 5BSJNFT JOU FYU

.VFCMFT B NFEJEB "SNBSJPT EJTF×PT QSPQJPT 1VFSUBT $PDJOBT 1BSRVFUT FUD

"OESÏT 'FSOÈOEF[ (JNÏOF[

1"35*$6-"3&4 */%6453*"-&4 3&'03."4 */5&(3"-&4 %& 46 7*7*&/%" $0.&3$*0

5FMT

$BQUJWBEPS . JNBHJOP BRVFT UFT MMVNT FO VO FTQBJ TPm TUJ DBU J NPEFSO P FO VO BDPMMJEPS FTQBJ FDMÒDUJD "RVFTUT ÏT VO HSBO FYFNQMF E JMtMVNJOBDJØ JOUFMtMJHFOU TØO VOB DSFBDJØ EF +FSSZ ,PUUF VO UBMFOUØT iEJTTFOZBEPS BSUJTUB J DSFBEPSw &TUBO DPOTUSVÕUT BNC BNQPMMFT EF WJ SFDJDMB EFT -FT BNQPMMFT EF WJ T IBO QJOUBU J EFTQSÏT T IB JODPSQP SBU MB QBSU EF MB JMtMVNJOBDJØ

(V XQ VHUYHL GLULJLW D SHUVRQHV JUDQV DXWzQRPHV DPE XQ WUDFWH DFROOLGRU L IDPLOLDU 64 0'&3*.

(VWDGHV SHUPDQHQWV (VWDGHV WHPSRUDOV &DSV GH VHWPDQD 'LHV L KRUHV FRQYLQJXGHV

SFTTBUT 4J FTUBO JOUFJBOB 5 B N TP

XXX DPNBDBTBUJBOB DPN

5FM

QSFHVOUBS QFS /ÞSJB 1MBDFT MJNJUBEFT

$0#&35&4 * '"±"/&4 4 - | | | | #NHQPUQ :++ | $#&#.10# 6GN | XFC YYY EQ[HG EQO | F NBJM EQ[HG"EQ[HG EQO |

6GTTC\CU [ EWDKGTVCU 4GJCDKNKVCEKÎP FG HCEJCFCU 4GJCDKNKVCEKÎP FG GFKſ EKQU CNWOKPQUQU 6CDKSWGU RNWXKCNCGU 2CVKQU FG NWEGU $CLCPVGU &GUCI×GU

$PN RVF VUJMJU[B BNQPMMFT SF DJDMBEFT FMT DPMPST WBSJFO "RVFTUFT OPWFEPTFT MMVNT WFOFO BNC VOB CPNCFUB EF UVC n VPSFTDFOU DPNQBDUF RVF QSPQPSDJPOB MB TPSUJEB E VOB CPNCFUB JODBOEFTDFOU EF XBUUT 5PU FM USFCBMM FT GB B NË "RVFTUB JEFB T BOPNFOB i3F -JHIUTw VO UÓUPM BQSPQJBU RVF KVHB BNC MFT QBSBVMFT MMVNT J FM SFDJDMBUHF

QBH JOEE

727 %DGDORQD

(Q 0DWHX

&KDOPHWD pV HO QRX UHJLGRU GH &XOWXUD

0DWHX &KDOPHWD 1RX UHJLGRU GH &XOWXUD

3HU %DGDORQD VHJXLP WUHED OODQW SHU D WX

9pQV R HW TXHGHV" 727 %DGDORQD

1MBOUJMMB#BTF JOEE

727 %DGDORQD

SFKJMMB QMBOB JOEE

727 %DGDORQD

7UHEDOODQW SHU %DGDORQD

DYDQFHP

0LTXHO (VWUXFK 1RX SUHVLGHQW G¶(5& %DGDORQD

&DS D OD ,QGHSHQGqQFLD &DS D OD 5HS~EOLFD &DS DO IXWXU

9pQV R HW TXHGHV"

HVTXHUUD FDW EDGDORQD EDGDORQD#HVTXHUUD RUJ

727 %DGDORQD

1MBOUJMMB#BTF JOEE

WHQGÈQFLHV

VGPFÇPEKGU &RPHUÇ SURSHU HO FRPHUÇ GH FDVD

&MT QSPEVDUFT NÏT OPVT HSBUJT FO VOB CPUJHB EF #BSDFMPOB "NC DJOD FVSPT DBEB NJH BOZ FM DMJFOU FT QPU FOEVS DJOD BSUJDMFT DBEB EVFT TFUNBOFT -FT ÞMUJNFT OPWFUBUT EF NBS RVFT DPN 1FQTJDP #JNCP 4BOFY "VTPOJB P )1 FT QP EFO USPCBS B &TMPÞMUJNP VOB CPUJHB RVF M FNSQFTB DBUBMBOB (VÓB EF 5FOEFODJBT IB PCFSU B #BSDFMPOB BM DPTUBU EFM DBSSFS 1FMBJ B 3POEB 6OJ WFSTJUBU &GFDUJWBNFOU BRVFTUB OPWB JOJDJBUJWB EF M FNQSFTB DB UBMBOB EFEJDBEB B FTUVEJT E PQJOJØ (VJB EF 5FOEÒODJFT ÏT VO HSBO BQBSBEPS FO FM RVBM QSPNPDJPOBS J E BMHVOB NBOFSB UFTUBS UPUFT MFT OP WFUBUT RVF NPMU BWJBU TFSBO MMBOÎBEFT BM NFSDBU "NC VO BCPOBNFOU EF DJOD F V S P T D B E B N J H B O Z F M T DMJFOUT QPEFO FOEVS TF DJOD OPWFUBUT DBEB EVFT TFUNBOFT EF NBOFSB HSBUVÕUB -FT FN QSFTFT OP QBHVFO QFS UFOJS FMT TFVT QSPEVDUFT TPCSF FMT RVBMT T PGFSFJY MB QPTTJCJMJUBU EF GFS FTUVEJT EF NFSDBU &T USBDUB EFM QSJNFS FTUBCMJNFOU E BRVFTUFT DBSBDUFSÓTUJRVFT B &VSPQB J T IJ USPCFO QSPEVDUFT E BMJNFOUBDJØ DPTNÒUJDB BD DFTTPSJT IJHJFOF J OFUFKB

BENFU QBHBNFOU QFS UBSHFUB P FO FGFDUJV OPNÏT MB JOT DSJQDJØ J M BCPOBNFOU EF DJOD FVSPT DBEB TJT NFTPT

QPSUËUJMT NÛCJMT UFMFWJTPST DËNFSFT EJHJUBMT EF NPNFOU B MB CPUJHB FODBSB RVF FTUBO FTUVEJBOU MB QPTTJCJMJUBU EF RVF FM DMJFOU QVHVJ FOEVS TF BRVFTUT BSUJDMFT B DBTB EVSBOU VOB UFNQPSBEB QFS EFTQSÏT QBSUJDJQBS FO VOB FORVFTUB E PQJOJØ -B DPNQBOZJB DBMDVMB RVF T PCUJOESË VOB GBDUVSBDJØ EF NJMJPOT E FVSPT FM "M MPDBM EF #BSDFMPOB TF MJ TVNBSË BRVFTU BOZ VOB OPWB CPUJHB BM DFOUSF EF .BESJE J FM KVOZ EFM FTUË QSFWJTU RVF T PCSJ B BMUSFT DBQJUBMT FVSPQFFT DPN 1BSÓT -POESFT #FSMÓO 3PNB J "NTUFSEBN

%F NPNFOU DPOUFO BNC SFGFSÒODJFT EJOUSF EF MFT DB UFHPSJFT E BMJNFOUBDJØ DPT NÒUJDB IJHJFOF OFUFKB J BD DFTTPSJT FODBSB RVF MB JEFB ÏT BOBS BNQMJBOU DBEB EVFT TFUNBOFT QFSRVÒ FMT DMJFOUT "MHVOFT EF MFT DPOEJDJPOT QVHVJO BDDFEJS B VOB NBKPS RVF &TMPÞMUJNP QPTB BMT TFVT HBNNB EF QSPEVDUF DMJFOUT TØO OP SFQFUJS FMT QSP 5BNCÏ QPESFV USPCBS VO FTQBJ EVDUFT EF NBOFSB DPOTFDV FO FM RVBM QPEFS QSPWBS FMT ÞM UJWB KB RVF M PCKFDUJV ÏT RVF UJNT HBEHFUT UFDOPMÛHJDT RVF WBHJO DPOFJYFOU TF MFT OPWF FT WBO JODPSQPSBOU BM NFS UBUT EF MFT NBSRVFT 5BNQPD DBU MFDUPST EF MMJCSFT EJHJUBMT

%S "EJM #BTIJS $FOUSF %FSNPMBTFS

%FSNBUPMPHÓB Z 5SBUBNJFOUP MÈTFS

XXX EFSNPMBTFSDFOUSF DPN

QBH JOEE

# B E B M P O B

$ 4BHVOU #BEBMPOB 727 %DGDORQD

.ÞTJDB t -FT FOUSBEFT EFMT DPODFSUT EF .BSL ,OPQn FS J 5IF $SBOCFSSJFT FO FMT TFVT EJGFSFOUT DPODFSUT B M &TUBU KB FTUBO B MB WFOEB TFHPOT IB JOGPSNBU MB QSPNPUPSB %PDUPS .VTJD .BSL ,OPQn FS QSFTFOUBSË FM TFV ÞMUJN USFCBMM A(FU -VDLZ FO VO DPODFSU RVF UJOESË MMPD FM EF KVMJPM EFM BM 1B MBV 0MÓNQJD EF #BEBMPOB J FM EF KVMJPM B MB QMBÎB EF CSBVT 7JTUB "MFHSF EF #JMCBP ,OPQn FS RVF WB TFS MÓEFS EFMT %JSF 4USBJUT PGFSJSË TIPXT B QBÕTPT FVSPQFVT -FT FOUSBEFT RVF PTDJMtMFO FOUSF J FVSPT FT QPESBO BERVJSJS B QBSUJS EF MFT IP SFT B JOUFSOFU B USBWÏT EF MB YBSYB A UJDLFUNBTUFS FT P B USBWÏT EFM UFMÒGPO " NÏT TFSBO OVNFSBEFT J EF TFJFOU SFTFSWBU

EF MB TFWB ÞMUJNB WJTJUB RVF UJOESBO MMPD FM EF NBSÎ BM 1BMBV 7JTUBMFHSF EF .B ESJE J FM EF NBSÎ BM QBWFMMØ 0MÓNQJD EF #BEBMPOB &MT UJ RVFUT FT QPESBO BERVJSJS BMT NBUFJYPT QVOUT EF WFOEB J FM TFV QSFV TFSË B #BEBMPOB EF J FVSPT QFS BMT TFJFOUT SFTFSWBUT J FVSPT QFS B MFT FOUSBEFT EF QJTUB " .BESJE FMT UJRVFUT BNC TFJFOU DPTUB SBO FVSPT J B MB QJTUB ,OPQGMFS ÏT HVBOZBEPS EF NÞMUJQMFT QSFNJT (SBNNZ BM DBQEBWBOU EF %JSF 4USBJUT J WFOVU NJMJPOT EF EJTDPT B UPU FM NØO BNC UFNFT DPN A.P OFZ JT GPS OPUIJOH A4VMUBOT PG TXJOH P A3PNFP BOE +VMJFU

WHQGÈQFLHV

4VSUFO B MB WFOEB MFT FOUSBEFT EFMT DPODFSUT EF .BSL ,OPQn FS J 5IF $SBOCFSSJFT

5IF $SBOCFSSJFT WB EFCVUBS BM 3FHOF 6OJU BNC A&WFSZCPEZ FMTF JT EPJOH JU J WB DPOUJOVBS FM TFV ÒYJU BNC A/P OFFE UP BSHVF BNC UFNFT DPN BSB A;PNCJ A3JEJDVMPVT 5IPVH IUT J A0EF UP NZ GBNJMZ -B CBOEB IB BDPOTFHVJU TFU EJT DPT EF QMBUÓ BMT &TUBUT 6OJUT J DJOD B &VSPQB BNC HBJSFCÏ NJMJPOT EF EJTDPT WFOVUT B UPU FM NØO

5BNCÏ KB FT QPEFO BERVJSJS MFT FOUSBEFT QFS BMT EPT DPO DFSUT EF 5IF $SBOCFSSJFT B M &TUBU EFTQSÏT EF WVJU BOZT

r .JDSPQJHNFOUBDJØ DFMMFT MMBWJT VMMT r %FQJMBDJPOT GBDJBMT DPSQPSBMT r 'PUPEFQJMBDJØ )PSFT DPOWJOHVEFT

3CMB 4BOU +PBO CYT #"%"-0/" 5

t ÁOJD (JNOËT B #BEBMPOB FYDMVTJWBNFOU GFNFOÓ t 4JTUFNB TFOTF IPSBSJT EF B h I t 1SPHSBNFT QFSTPOBMJU[BUT t %JWFSTJØ J 3FTVMUBUT t 1JMBUFT

DJ VFTU BOVO 1PSUBOU BR " (3"5*4 6- T

."53¶$ WËMJE B m O PGFS UB

t 5POJm DBDJØ $IJ LJOH 5BOHP $ 1SJN O QJT 5FMÒGPO CBEBMPOB! NJOVUPT OFU XXX NJOVUPT OFU 727 %DGDORQD

QBH JOEE

%&1*-"4&3

0pV GH WUDFWDPHQWV À QDOLW]DWV DPE q[LW (TXLS SURIHVVLRQDO DOWDPHQW TXDOLÀ FDW 3LRQHUV HQ HO PHUFDW GH OD IRWRGHSLODFLy L GHOV WUDFWDPHQWV OjVHU (OV SUHXV PpV FRPSHWLWLXV /·RSFLy GH PpV GH FOLHQWV

/PNÏT MB UFDOPMPHJB NÏT BWBOÎBEB HBSBOUFJY FMT NJMMPST SFTVMUBUT

$0/'*" &/ &- -¶%&3 '(3,/$6(5 %$'$/21$ & 6DQW -RDTXLP FDQWRQDGD & GHO 0DU

+RUDUL LQLQWHUURPSXW 'LOOXQV GH K D K 'LPDUWV D GLYHQGUHV GH K D K 'LVVDEWH GH K D K 3jUTXLQJ JUDWXwW %$'$/21$ 0$7$5Ð *,521$ *5$12//(56

ZZZ GHSLODVHU HV

EFQJMBTFS CBEBMPOB JOEE

ZZZ GHSLODVHU HV 1"$,4 130.0$*0/"-4 &OHPOBMT BJYFMMFT å

1JU BCEPNFO å

.JUHFT DBNFT JOGFSJPST FOHPOBMT å

1JU BJYFMMFT å

$BNFT TFODFSFT FOHPOBMT BJYFMMFT å

1JU FTRVFOB å

.JUHFT DBNFT TVQFSJPST BJYFMMFT å

1JU BCEPNFO BJYFMMFT å

//80 32/6$'$ /­6(5 $/(-$1'5,7$ $SWH SHU D SHOOV IRVTXHV "CEPNFO BCEPNFO å "JYFMMFT BYJMBT å "OVT BOP å "SÒPMB BSFPMB å #BSCB NBTDVMJOB CBSCB NBTDVMJOB å #SBÎPT EPOB CSB[PT NVKFS å #SBÎPT IPNF CSB[PT IPNCSF å $BNFT TFODFSFT QJFSOBT FOUFSBT å $MBUFMM OVDB å $PMM DVFMMP å %JUT EFEPT å &OHPOBMT JOHMFT å &OUSFDFMMB FOUSFDFKP å &TQBUMMB IPNCSPT å &TRVFOB DPNQMFUB FTQBMEB DPNQMFUB å

GWH D VHVVLy

*OUFHSBM JOUFHSBM å -ÓOJB BMCB MÓOFB BMCB å -ÓOJB CJRVJOJ MÓOFB CJLJOJ å -MBWJ JOGFSJPS MBCJP JOGFSJPS å -MBWJ TVQFSJPS MBCJP TVQFSJPS å .FOUØ NFOUØO å .JUHFT DBNFT JOG NFEJBT QJFSOBT JOG å .JUHFT DBNFT TVQ TFOTF FOHPOBMT NFEJBT QJFSOBT TVQ TJO JOHMFT å /BUHFT HMÞUFPT å 0SFMMFT PSFKBT å 1BUJMMFT QBUJMMBT å 1JU QFDIP å 1ÛNVMT QØNVMPT å 3FHJØ MVNCBS MVNCBSFT å

'0505&3®1*" &45µ5*$" 3FKPWFOJNFOU DVUBOJ GBDJBM 3FKVWFOFDJNJFOUP DVUÈOFP GBDJBM

5BTRVFT $FSBUPTJ 4PMBST 3PTËDJFT .BODIBT 2VFSBUPTJT 4PMBSFT 3PTÈDFBT

-FTJPOT WBTDVMBST $BQJMrMBST USFODBUT -FTJPOFT WBTDVMBSFT $BQJMBSFT SPUPT

å

5FOTBU GBDJBM 5FOTBEP GBDJBM

1PUFT EF HBMM 3JDUVT 1FSJMBCJBMT 'MBDDJEJUBU 1BUBT EF HBMMP 3JDUVT 1FSJMBCJBMFT 'MBDJEF[

*/5&(3"-

å

3FKPWFOJNFOU DVUBOJ GBDJBM 5FOTBU GBDJBM 3FKVWFOFDJNJFOUP DVUÈOFP GBDJBM 5FOTBEP GBDJBM

å 'PUPUFSËQJB BDOF TFTTJPOT 'PUPUFSBJB BDOÏ TFTJPOFT å

1SFVT QFS TFTTJØ 1307" (3"56¸5"

EFQJMBTFS CBEBMPOB JOEE

PHGLFLQD

OGFKEKPC

IDUPÁFLHV GH WRUQ FRQVHOOV PHWJHV VDOXW

4FUHF MFHJTMBUJV B MFT QSPNPDJPOT EF CFHVEFT BMDPIÛMJRVFT &M 1BSMBNFOU BQSPWB MB -MFJ EF 4BMVU 1ÞCMJDB RVF EØOB TVQPSU BMT CPOT IËCJUT QFS VOB WJEB TBMVEBCMF DPOUSPM EFMT FTUBCMJNFOUT BMJ NFOUBSJT MFT BJHàFT EF DPO TVN MB MFHJPOFMrMPTJ FMT CSPUT FQJEÒNJDT MFT BMFSUFT TBOJ UËSJFT FMT QMBOT EF QSFWFODJØ B M IJWFSO DPN FMT EF MB HSJQ J MFT BDUVBDJPOT QFS POBEFT EF DBMPS &M UFYU RVF FTQFDJmDB RVF iTFSBO QFOBMJU[BEFT MFT QSPNPDJPOT QFS BM DPOTVN EF CFHVEFT BMDPIÛMJRVFTw B CBST SFTUBVSBOUT J EJTDPUFRVFT J MFT QSPNPDJPOT IBQQZ IPVST UBNCÏ BOPNFOBEFT A Y BNC TBODJPOT MMFVT HSFVT P NPMU HSFVT RVF QPESBO BSSJCBS BMT FVSPT

&M QMF EFM 1BSMBNFOU IB BQSP WBU BRVFTU EJNFDSFT MB QSJ NFSB -MFJ EF TBMVU QÞCMJDB EF $BUBMVOZB RVF T PDVQB EF QSPUFHJS J NJMMPSBS MB TBMVU EF MB QPCMBDJØ B USBWÏT EFM DPOUSPM EFMT SJTDPT FO M BMJNFOUBDJØ P FM UBCBRVJTNF J MB QSPNPDJØ E FTUJMT EF WJEB TBMVEBCMF 1SFWFV NVMUFT EF mOT B FVSPT QFS B MB QVCMJDJUBU EFM DPOTVN E BMDPIPM DPN FMT Y P FMT IBQQZ IPVS QMBOT QFS EFJYBS EF GVNBS EF QSP NPDJØ E FYFSDJDJ GÓTJD J VOB EJFUB TBMVEBCMF *ODMPV JOT QFDDJPOT QFSJÛEJRVFT B FTUB CMJNFOUT J MB WJHJMËODJB J DPO USPM EF MFT BJHàFT EF DPOTVN IVNË &M UFYU BQSPWBU JODPSQPSB MB DSFBDJØ EF M "HÒODJB $BUBMB OB EF 4BMVU 1ÞCMJDB DPN B FOT FYFDVUPS EF MB MMFJ RVF EPUBSË EF NÏT QSPUBHPOJTNF FMT BKVOUBNFOUT i²T EF CFO TFHVS MB NÏT JNQPSUBOU RVF IFN BQSPWBU EFT EFM w IB NBOJGFTUBU MB DPOTFMMFSB (FMJw VO DPQ BQSPWBU FM UFYU

- IFNJDJDMF QBSMBNFOUBSJ IB BQSPWBU BRVFTU EJNFDSFT iVOB MMFJ EF QBÓT w )P EFNPTUSB FM GFU RVF T IBHJ BQSPWBU QFS VOBOJNJUBU iNBMHSBU M ËNCJU QSFFMFDUPSBMw UBM DPN IB B SF DPSEBU FM EJQVUBU 6SJFM #FSUSBO i 7B NÏT FOMMË EFM TJTUFNB TBOJUBSJw IB FYQMJDBU (FMJ RVJ IB JODJEJU FO FM MMJTUBU EF QSFTUBDJPOT EF TBMVU QÞCMJDB EF MB OPWB MMFJ RVF JODMPVFO MB JOWFTUJHBDJØ QSPNPDJØ J QSF WFODJØ EF MB TBMVU FO ËNCJUT RVPUJEJBOT DPN M FEVDBDJØ M IBCJUBUHF FM NFEJ BNCJFOU P FM MBCPSBM

- "HÒODJB EF 4BMVU 1ÞCMJDB EF $BUBMVOZB "TQDBU TFSË M PSHBOJTNF BVUÛOPN FYFDV UPS EFMT TFSWFJT RVF QSFWFV MB -MFJ 6O EFMT TFVT PCKFDUJVT ÏT EPUBS EF NÏT QSPUBHPOJTNF FMT BKVOUBNFOUT RVF UJOESBO UJUVMBSJUBU QSÛQJB B M FOT &T WJODVMB BMT (PWFSO 5FSSJUPSJBMT EF 4BMVU B USBWÏT EFMT TFVT TFSWFJT SFHJPOBMT QFS QPUFO DJBS MB WFSUFCSBDJØ FOUSF MFT EJGFSFOUT BENJOJTUSBDJPOT

-B MMFJ QSFWFV MB WJHJMËODJB J FM

505" &%"5

4&37*$*04 %& "5&/$*»/ " %0.*$*-*0 4"%

" TV TFSWJDJP EFTEF

1&340/"4 .":03&4 &/'&3.&%"%&4 $3»/*$"4 1045 01&3"503*04 )041*5"- )03"4

FSWJDJP

$POUSBUBOEP FM 4

EF MB JUBS MB EPDVNFOUBDJØO MF BZVEBNPT B USBN

OUF NF VJUB SBU B ( MFZ EF MB %FQFOEFODJ

``*OGØSNFTF

1&340/"- $6"-*'*$"%0 : $0/ &91&3*&/$*" 7*4*5"4 $0/$&35"%"4

&NQSFTB SFHJTUSBEB FO #JFOFTUBS 4PDJBM OÞN 4

"WEB .BSFTNF PmDJOB QMBOUB #BEBMPOB r XXX UPUBFEBU DPN r JOGP!UPUBFEBU DPN

QBH JOEE

727 %DGDORQD

JXÁUGLD GLÛUQD

J C J

PHGLFLQD

IDUPÁFLHV

1FS RVÒ OP QPU TFHVJS FM SJUNF EF MB TFWB DMBTTF

&KUUCDVG F QEVWDTG "(6*-"3 'SBODFTD -BZSFU #0*9 "W $BUBMVOZB $0/%0/ 1UHF 3JV 5FS '&33& $-"1&4 "W .BSUÓ 1VKPM (": "W .BSUJ 1VKPM (0/;"-&; +*. $BOPOHF #BSBOFSB 16$)0- $USB "OUJHB EF 7BMÒODJB 4&3&/5*-- .BS 7*":/" "W 1SFTJEFOU $PNQBOZT 7*7&4 +PBO 7BMFSB $BOU ®GSJDB

&KWOGPIG F QEVWDTG

4BMVU t 2VBO VO OFO B RVBM TFWPM FEBU OP BWBOÎB FO VO BQSFOFOUBUHF DPN T FTQFSB QFS B MB TFWB FEBU J OJWFMM E JOUFMtMJHÒODJB DBM QFOTBS B MB QPTTJCJMJUBU RVF QBUFJYJ BMHVOB EJGJDVMUBU FTQFDÓGJDB E BQSFOFOUBUHF 4ØO USBTUPSOT EF CBTF OFVSP CJPMÛHJDB RVF GBO RVF VO OFO P OFOB BNC VOB JOUFMtMJHÒODJB J JOTUSVDDJØ BEFRVBEB OP QSP HSFTTJ FO VOB P NÏT NBUÒSJFT DPN TFSJB E FTQFSBS J QFS UBOU OP QVHVJ TFHVJS FM SJUNF OPS NBM EF MB TFWB DMBTTF ²T NPMU JNQPSUBOU EFUFDUBS IP RVBO NÏT BWJBU NJMMPS -B EJm DVMUBU FO FMT BQSFOFOUBUHFT CËTJDT B QSFFTDPMBS IBVSJB TJ NÏT OP E BMFSUBS &M GSBDËT FTDPMBS BNC NPM UB GSFRàÒODJB ÏT FM SFTVMUBU E VOB EJGJDVMUBU FTQFDÓGJDB E BQSFOFOUBUHF OP EJBHOPT UJDBU OJ USBDUBU EF GPSNB BEF RVBEB

&MT OFOT J OFOFT BNC VO EJBHOÛTUJD USBDUBNFOU QSF DPÎ J BNC MFT BEBQUBDJPOT FTDPMBST OFDFTTËSJFT PCUJO ESBO VO SFOEJNFOU BDBEÒNJD BDDFQUBCMF

"(6*-"3 'SBODFTD -BZSFU #0*9 "W $BUBMVOZB $0/%0/ 1UHF 3JV 5FS '&33& $-"1&4 "W .BSUÓ 1VKPM 16$)0- $USB "OUJHB EF 7BMÒODJB 7*":/" "W 1SFTJEFOU $PNQBOZT

" UPUFT MFT VOJWFSTJUBUT IJ IB BMVNOFT BNC EJm DVMUBUT FTQF DÓm RVFT E BQSFOFOUBUHF QFSÛ TFOT EVCUF IP IBO UJOHVU NPMU NÏT EJGÓDJM RVF MB SFTUB

&GN &KNNWPU F QEVWDG CN FKXGPFTGU F QEVWDTG "(6*-"3 'SBODFTD -BZSFU #0*9 "W $BUBMVOZB $0/%0/ 1UHF 3JV 5FS '&33& $-"1&4 "W .BSUÓ 1VKPM (": "W .BSUJ 1VKPM (0/;"-&; +*. $BOPOHF #BSBOFSB 16$)0- $USB "OUJHB EF 7BMÒODJB 4&3&/5*-- .BS 7*":/" "W 1SFTJEFOU $PNQBOZT 7*7&4 +PBO 7BMFSB $BOU ®GSJDB

5BNQPD DBM QFSESF EF WJT UB RVF FM QSPHSÏT EF NPMUT E BRVFTUT BMVNOFT EFQÒO FO HSBO QBSU EFMT SFDVSTPT EF MFT TFWFT GBNÓMJFT RVF IBO EF TVQPSUBS FM DPTU EF MB TFWB SFFEVDBDJØ FO VO DFOUSF FTQFDJBMJU[BU J EF MB CPOB WPMVOUBU EFMT TFVT NFTUSFT KB RVF MFT MMFJT FEVDBUJWFT OP FMT DPOUFNQMFO EF GPSNB BEFRVBEB

JXÁUGLD QRFWXUQD

J C J FGN FKC UGI×GPV

&KUUCDVG F QEWDTG /&#05 #FMMBWTJUB 7*":/" "W 1SFTJEFOU $PNQBOZT

&M -MBQJT EJBHOPTJ J USBDUBNFOU EF MFT EJm DVMUBUT FTQFDÓm RVFT E BQSFOFOUBUHF

PHGLFLQD L VDOXW

&KWOGPIG F QEWDTG "-#"-"5 $"563-" 'SBODFTD -BZSFU 7*":/" "W 1SFTJEFOU $PNQBOZT

&KNNWPU F QEWDTG

DFOUSF NÒEJD

(".*4"/4 .BSJË #FOMMJVSF 7*":/" "W 1SFTJEFOU $PNQBOZT

&KOCTVU F QEWDTG

BOVODJB U FO BRVFTUB TFDDJØ

7"-&30 -MFØ 'POUPWB 7*":/" "W 1SFTJEFOU $PNQBOZT

5SBUBNJFOUP SFHFOFSBUJWP BOUJFOWFKFDJNJFOUP GBDJBM Z SFNPEFMBDJØO DPSQPSBM TJO DJSVHJB

&KOGETGU F QEWDTG #0*9 "W $BUBMVOZB 7*":/" "W 1SFTJEFOU $PNQBOZT

&KLQWU F QEVWDTG

5FSBQJB OFVSBM Z NFEJDJOB CJPMØHJDB

1&º" "W .BSRVFT EF .POUSPJH 7*":/" "W 1SFTJEFOU $PNQBOZT

7JTJUBT DPODFSUBEBT

XXX FMUPUEJHJUBM DPN CBEBMPOB!FMUPUEJHJUBM DPN

727 %DGDORQD

QBH JOEE

&KXGPFTGU F QEVWDTG

5FM

#"3"5&$) $BSMFT * 7*":/" "W 1SFTJEFOU $PNQBOZT

PHGLFLQD

'JCSPNJBMHJB 3FDVQFSB DBMJEBE EF WJEB DPO MB RVJSPQSBDUJDB 4BMVU t -B QBMBCSB 'JCSPNJBM HJB WJFOF EFM MBUÓO im CSPw RVF TJHOJm DB UFKJEP m CSPTP Z EFM HSJFHP iNZPw QBSB NÞTDVMP Z iBMHJBw QBSB EPMPS &M TÓO ESPNF EF 'JCSPNJBMHJB FT V O U S B T UP S O P D S Ø O J D P R V F TF DBSBDUFSJ[B DPO VO EPMPS HFOFSBMJ[BEP EF NÞTDVMPT DBOTBODJP Z WBSJPT QVOUPT UJFTPT "GFDUB B NÈT EF NJ MMPOFT EF FTQB×PMFT %FCJEP B SB[POFT JOEFUFSNJOBEBT NÈT EFM EF MB HFOUF RVF EFTBSSPMMB GJCSPNJBMHJB TPO NVKFSFT 5PEBWÓB OP TF TBCF TJ FTUB QSFEPNJOBODJB FT VO GFOØNFOP EF TPDJBMJ[BDJØO FO MBT DVMUVSBT PDDJEFOUBMFT P TJ WJFOF EF MB DPNCJOBDJØO EF MBT IPSNPOBT EFM TJTUFNB SFQSPEVDUJWP GFNFOJOP Z PUSBT QSFEJTQPTJDJPOFT HFOÏUJDBT %F BDVFSEP DPO FM $PMFHJP "NFSJDBOP EF 3FVNBUPMPHÓB

"$3 MB m CSPNJBMHJB FT EFm OJEB DPNP VOB IJTUPSJB EF EP MPS FO MPT DVBUSP DVBESBOUFT EFM DVFSQP EVSBOUF BM NFOPT NFTFT &TUP TJHOJm DB RVF FM EPMPS TF SFTJFOUF FO MPT EPT MBEPT oJ[RVJFSEP Z EFSFDIP o BTÓ DPNP BSSJCB Z EFCBKP EF MB MÓOFB NFEJB EFM WJFOUSF "EFNÈT FM "$3 BTPDJB B MB FOGFSNFEBE QVOUPT EP MPSPTPT DBSBDUFSÓTUJDPT Z FM EJBHOØTUJDP FTUÈ WFSJGJDBEP DVBOEP P NÈT EF FTUPT QVOUPT BQBSFDFO UJFTPT &O BEJDJØO BM EPMPS Z DBOTBODJP MPT TJHVJFOUFT TÓOUPNBT QVF EFO FTUBS BTPDJBEPT

t%Jm DVMUBEFT QBSB EPSNJS JOTPNOJP t3JHJEF[ QPS MB NB×BOB t%PMPS EF DBCF[B t*OUFTUJOP JSSJUBCMF t%PMPS NFOTUSVBM t)PSNJHVFPT FO MBT

FYUSFNJEBEFT t1JFSOBT JORVJFUBT t4FOTJWJMJEBE B MB UFNQFSBUVSB t1SPCMFNBT EF NFNPSJB 2VJSPQSÈDUJDB Z m CSPNJBMHJB -B PQDJØO NÈT OBUVSBM *NBHJOBE VOB NBOHVFSB MB NÏEVMB FTQJOBM 4V iUSBCB KPw FT MMFWBS BHVB NFOTBKFT OFSWJPTPT EFTEF TV GVFOUF FM DFSFCSP IBTUB MBT QMBO UBT MPT ØSHBOPT Z UFKJEPT EFM DVFSQP 4J QPOFNPT VOB QJF ESB TVCMVYBDJØO WFSUFCSBM

TPCSF FTUB NBOHVFSB P IB DFNPT VO OVEP BM QSJODJQJP EPOEF MB QSFTJØO EF BHVB FT NÈT GVFSUF {RVF PDVSSF 1VFT FM BHVB OP QVFEF QBTBS P FM n VKP TF EFCJMJUB $PODSFUBNFOUF MB NÏEVMB FTQJOBM OP QVFEF USBOTNJUJS MB JOGPSNBDJØO OFDFTBSJB QBSB . %0-034 ."4 %&-#-"/$)

14*$»-0(" /J×PT Z BEPMFTDFOUFT

%JBHOPTJ J USBDUBNFOU EF MFT EJGJDVMUBUT FTQFDÓGJRVFT EhBQSFOFOUBUHF

1TJDPUFSBQJB

'BNJMJBS Z QBSFKB )PSBT DPOWFOJEBT

F EPMPST NBT!HNBJM DPN $ $PMM J 1VKPM S B r #BEBMPOB

5FM

T J O P U h BO VOD J F T D P N WP M T R VF FU USP C JO

$ +VBO 99*** 5FM 4BOU 'PTU EF $BNQTFOUFMMFT #BSDFMPOB

&.* 304"

5HVLGHQFLD 7HUFHUD (GDG

QBH JOEE

/FVSPQTJDPMPHÓB

%FNFODJBT USBOTUPSOPT EFM TVF×P &WBMVBDJØO OFVSPQTJDPMØHJDB SFIBCJMJUBDJØO DPHOJUJWB

t (&3*"53*" * 1&%*"53*"

5SBOTUPSOPT EF BOTJFEBE FTUSÏT EFQSFTJØO GPCJBT -VEPQBUÓBT Z BEJDDJPOFT TPDJBMFT 1TJDPTJT

t "1"54 * $0.13&4

XXX FM MMBQJT PSH

"EVMUPT

t "$0.1" /:".&/54 t )*(*&/&4 %*®3*&4

5SBTUPSOT EF MFDUPFTDSJQUVSB EJTMÒYJB

5SBTUPSO EF EÒGJDJU EhBUFODJØ BNC J TFOTF IJQFSBDUJWJUBU 5%" )

%JTDBMDÞMJB 5SBTUPSOT EF MB WFV J MB QBSMB MPHPQÒEJB

5SBTUPSO EhBQSFOFOUBUHF OP WFSCBM 5"/7

9FSSBEFT DVSTPT J UBMMFST QFS B QBSFT J NFTUSFT

5SBOTUPSOPT EFM BQSFOEJ[BKF Z P DPOEVDUB 5%") 5SBOTUPSOPT BGFDUJWPT EF QFSTPOBMJEBE Z BMJNFOUBSJPT

"W 1SFTJEFOU $PNQBOZT #"%"-0/"

t 1&/4*»/ $0.1-&5" .&%*" 1&/4*»/ : )03"4 $0/7&/*%"4 t 4&37*$*0 .²%*$0 : ."4"+*45" t 5&33";" : (3"/ +"3%¶/ t 1-";"4 -*.*5"%"4

727 %DGDORQD

PHGLFLQD

FM CVFO GVODJPOBNJFOUP EF DBEB ØSHBOP UFKJEP P DÏMVMB EFM DVFSQP "TÓ PDVSSFO NV DIPT EFTØSEFOFT USBTUPSOPT P FOGFSNFEBEFT DPO WBSJPT TÓOUPNBT EFQFOEJFOEP EFM DBTP

&M QBQFM EFM %PDUPS FO 2VJ SPQSÈDUJDB FT FM EF RVJUBS MB QJFESB EFM DBNJOP B GJO EF QFSNJUJS VO CVFO n VKP EF JOGPS NBDJØO EFTEF MB GVFOUF IBTUB FM SFTUP EFM DVFSQP $VBOEP MB TVCMVYBDJØO TF TJUÞB BM OJWFM EF MB $FSWJDBM BEFNÈT EF PDMVJS MPT NFOTB KFT OFSWJPTPT QVFEF BM NJT NP UJFNQP QSFTJPOBS MB BSUFSJB WFSUFCSBM MP RVF EJTNJOVZF FM n VKP EF TBOHSF IBTUB FM DFSF CSP : FTUP QVFEF BGFDUBS FM GVODJPOBNJFOUP EF MB HMÈOEVMB QJUVJUBSJB Z QSPWPDBS MB TFSJF EF NFDBOJTNPT FOVNFSBEPT NÈT BSSJCB

"EFNÈT QPSRVF MB 'JCSPNJBM HJB BGFDUB B MPT UFKJEPT CMBO EPT OPUBNPT VOB UFOTJØO

DSFDJFOUF Z VOB QÏSEJEB EF MB n FYJCJMJEBE OBUVSBM EF MPT NÞTDVMPT MP RVF SFTVMUB FO VOB QÏSEJEB EF NPWJNJFOUP HMPCBM EF MB DPMVNOB WFS UFCSBM : FTUP SFTVMUB FO VO SFn FKP OFVSPMØHJDP RVF DBVTB VOB UFOTJØO NVTDVMBS BÞO NÈT GVFSUF &T VO DÓSDVMP WJ DJPTP RVF DPOUJOVBSÈ IBTUB RVF MMFWF DPO FM UJFNQP B NÈT

5(6,'Ë1&,$ *(5,­75,&$

*$8', $FOUSF DPM MBCPSBEPS EF MB (FOFSBMJUBU

QBH JOEE

%SB -BVSFODF (PYFT $FOUSF $IJSPQSËDUJD EFM .BSFTNF

$PELHQW IDPLOLDU L WUDQTXLO HQ PLJ GH OD QDWXUD &DVD DPE MDUGt L WHUUDVVHV &XLQD SURSLD

& $QWRQL *DXGt SREOH

6$17 )267 '( &$036(17(//(6

7HO

727 %DGDORQD

EPMPS NÈT UFOTJØO NVTDVMBS QÏSEJEB EF NPWJNJFOUP NÈT EJm DVMUBEFT QBSB EPSNJS FUD y %F IFDIP DPO MPT BKVTUFT WFS UFCSBMFT FWJUBNPT UBN CJÏO RVF MB DPMVNOB WFSUFCSBM QJFSEB FM NPWJNJFOUP RVF MF DBSBDUFSJ[B

JDVWURQRPLD

ICUVTQPQOKC

UHFHSWHV UHVWDXUDQWV SL]]HULHV PHQMDUV SUHSDUDWV

-B HBTUSPOPNJB J MB DVJOB DBNQT QSPGFTTJPOBMT FO BMÎB ( B T U S P O P N J B t - P G F S U B E FTUVEJT FO HBTUSPOPNJB IB DSFTDVU FMT ÞMUJNT BOZT B $BUB MVOZB FO QBSBMtMFM B M FYQBOTJØ E VO DBNQ BNC VO JNQPSUBOU QFT FDPOÛNJD J JNQVMTBEB QFM QSFTUJHJ EF DVJOFST DPN 'F SSBO "ESJË 6OB GPSNBDJØ RVF IB TFSWJU QFS QSPGFTTJPOBMJU [BS FM TFDUPS J QFS EJOBNJU[BS M FDPOPNJB E BMHVOFT DPNBS RVFT " M BDUVBMJUBU QPEFN USPCBS VOB WJOUFOB E FTDPMFT QÞCMJRVFT SFQBSUJEFT QFM UFSSJUPSJ DBUBMË RVF EPOFO DJDMFT EF HSBV NJUKË FO MFT FTQFDJBMJUBUT EF DVJ OB J EF QBTUJTTFSJB J GPSOFSJB J FO BMHVOT DBTPT VO DJDMF TVQFSJPS EF SFTUBVSBDJØ BNC VOB EVSBDJØ EF EPT BOZT QFS CÏ RVF DBEB WFHBEB ÏT NÏT IBCJUVBM DPNQMFUBS FMT EPT QSJNFST FO USFT BOZT 5BNCÏ IJ IB EJWFSTPT DFOUSFT QSJWBUT

i-B NVMUJQMJDBDJØ EFMT DFOUSFT J FM SFDPOFJYFNFOU DBQ BMT

DPN M &TDPMB )PGNBOO B #BS DFMPOB BNC UJUVMBDJØ QSÛQJB

>Q_`Ma^MZ` BNBOJEFT r CPUJGBSSFT r QB EF DPDB r WJOT r YBUPOBEB r QBUÏT GPSNBUHFT r DBSOT B MB CSBTB r UBQFT r YBNQBOZFU r FNCPUJUT JCÒSJDT

1MBÎB EF MB GPOU r #BEBMPOB 5FM r

$6*/" $"40-"/" t /PWJMMP "SHFOUJOP

%*--6/4 t 9BUØ EF 4JUHFT 5 " $ / 5" t 4FDSFUP *CÏSJDP t 'JMFU Eh&TUSVÎ B MB CSBTB t $BSOT B MB CSBTB BNC MMFOZB EhBM[JOB t $BSHPMT B MB MMBVOB B MhFTUJM EF -MFJEB

1

$-*&/54

QBH JOEE

$ $PORVJTUB #"%"-0/" 5FM

727 %DGDORQD

- BVHF EF MB HBTUSPOPNJB FMT ÞMUJNT BOZT J MB EJNFOTJØ NFEJËUJDB RVF IB BERVJSJU OP OPNÏT IBO DPOUSJCVÕU B DSFBS Bm DJØ BMT GPHPOT FOUSF FMT KPWFT J B FNQMFOBS FMT DVSTPT EF DVJOB TJOØ UBNCÏ iB EJHOJm DBS J QSFTUJHJBS MB QSPGFTTJØw DPN BQVOUB (BJFUË 'BSSËT QSFTJ EFOU EFM (SFNJ EF 3FTUBVSBDJØ

EF #BSDFMPOB RVF HFTUJPOB M &TDPMB 4VQFSJPS E )PTUBMFSJB EF #BSDFMPOB KVOU BNC FM (SF NJ E )PUFMT EF #BSDFMPOB 5PU J BJYÓ 'BSSËT SFJWJOEJDB NÏT JOTDSJQDJPOT FO M FTQFDJBMJUBU EF TBMB KB RVF iVO EFMT RVF WFOFO WPMFO TFS DVJOFSTw J QSPQPTB GFS VOB TÒSJF EF UFMF WJTJØ QFS DPNQFOTBS MFT YJGSFT i5BNCÏ ÏT JNQPSUBOU RVF MFT FTDPMFT TËQJHVFO GFS WFVSF BMT BMVNOFT RVF EF HSBOT DVJOFST OP FO TVSUFO DBEB EJB J RVF TØO FM SFTVMUBU EF NPMUT BOZT EF GFJOBw SFDMBNB 'SBODÓ .BMHSBU UPU FM OJWFMM E BCBOEPOBNFOU EFMT FTUVEJT ÏT CBJY

TJOÒSHJFT BNC FMT QSPEVDUPST J QFS UBODBS FM DJDMF FO MMJHBS IP BNC M PGFSUB IPUFMFSB J EF SFTUBVSBDJØw DPNFOUB (FSBSE 4PMFS DPPSEJOBEPS EFM DFOUSF PO UBNCÏ GBO DVSTPT PDVQBDJP OBMT BMT USFCBMMBEPST FO BDUJV B MFT FTDPMFT J QSPHSBNFT EF HBSBOUJB TPDJBM

JDVWURQRPLD

DVJOFST DBUBMBOT IB TJUVBU BMT FTUVEJT FOUSF FMT NJMMPST EF MB GPSNBDJØ QSPGFTTJPOBMw Bm SNB +PTFQ 'SBODÓ EJSFDUPS HFOFSBM E &OTFOZBNFOUT 1SPGFTTJP OBMT "SUÓTUJDT J &TQFDJBMJU[BUT RVF KVUKB M PGFS UB EF iTVGJ DJFOUw FODBSB RVF iT IBVSBO E BVHNFOUBS FM OÞNFSP EF QMB DFTw &O m OBMJU[BS FMT FTUVEJT FMT BMVNOFT SFCFO FMT UÓUPMT EF 5ÒDOJD FO $VJOB J (BTUSP OPNJB FO 4FSWFJT FO 3FTUBV SBDJØ FO 'PSOFSJB 1BTUJTTFSJB J $POm UFSJB P CÏ FM EF 5ÒDOJD 4VQFSJPS FO 3FTUBVSBDJØ QFSÛ OP QPEFO BDDFEJS B VOT FTUVEJT VOJWFSTJUBSJT RVF OP FYJTUFJYFO NÏT FOMMË EF M ËNCJU EF MB HFT UJØ IPUFMFSB J FM UVSJTNF

5PU J BJYÓ IJ IB WFVT RVF SF DMBNFO VO QBDUF EFM TFDUPS QFSRVÒ T IBHJ E BDSFEJUBS VOB EFUFSNJOBEB GPSNBDJØ QFS QP EFS IJ USFCBMMBS $PN MB EFM DVJOFS *TNB 1SBEPT RVF USPCB B GBMUBS VO DPOTFOT FO BRVFTU TFOUJU J RVF QSPQPTB FTUBCMJS VOT SFRVJTJUT NÓOJNT QFS JO DPSQPSBS TF BM NFSDBU MBCPSBM 1FS MB TFWB CBOEB +BVNF 'ËCSFHB QSPGFTTPS EF M &TDPMB 6OJWFSTJUËSJB EF 5VSJTNF J %J SFDDJØ )PUFMFSB QFOTB RVF FM DPOUJOHVU EFMT FTUVEJT EF HBTUSPOPNJB IBVSJB E JODMPVSF BTTJHOBUVSFT TPCSF MB HBTUSP OPNJB BSSFV EFM NPO J TPCSF QSPEVDUF MPDBM

&O DPNBSRVFT DPN FM 3JQPMMÒT PO MB DSJTJ BDUVBM T IB TVNBU B MFT BOUFSJPST EFMT TFDUPST UÒYUJM J NFUBMrMÞSHJD M "VMB E )PTUBMFSJB EFM 3JQPMMÒT DSFBEB FM IB FTUBU VOB BQPTUB QFS EJOBNJU [BS M FDPOPNJB B USBWÏT E VOB GPSNBDJØ RVF QPU EPOBS OPWFT TPSUJEFT QSPGFTTJPOBMT i5SF CBMMFN NPMU FM OPTUSF QSPEVDUF RVF FOT TFSWFJY QFS HFOFSBS

HBTUSPUFDB DBU

&M CBMDØ EFM NBS SFTUBVSBOU

5FSSBTTFT BNC WJTUFT B NBS t .FOÞT EF EJNBSUT B EJVNFOHF t 4PQBST QFS B HSVQT BNC QPTTJCJMJUBU EF TBMB EF GFTUFT

EhPDUVCSF

$"45"/:"%" 1BTTFJH .BSÓUJN 4 / $MVC /ËVUJD #ÏUVMP

#BEBMPOB 5FM .CM FMCBMDPEFMNBS!DOCFUVMP DPN

.&/+"34 $6*/"54 1*;;&3*&4 76-- "/"3 " 6/ 3&45"63"/5 " 26*/

4J OP FU DPOFJYFO OP FU QPEFO USVDBS "3" &4 &- .0.&/5 3&4&37" &- 5&6 &41"* 16#-*$*5"3* "-

505 #"%"-0/" 5FM

727 %DGDORQD

QBH JOEE

JDVWURQRPLD

$JHBMØ BNC "OÓT EFM .POP (BTUSPOPNJB t -B DSFBDJØ $J HBMØ /PVWFBV BNC "OÓT EFM .POP T IB FNQPSUBU FM QSFNJ EF MB B FEJDJØ EFM $FSUBNFO EF SFDFQUFT EF QBTUJTTFSJB FMBCP SBEFT BNC FM QSPEVDUF CBEBMPOÓ NÏT DPOFHVU BSSFV M "OÓT EFM .POP - BVUPS EF MB DSFBDJØ DV MJOËSJB IB FTUBU 3JDBSEP -ØQF[ J T IB FNQPSUBU VO QSFNJ EF å

"RVFTU DPODVST QSFUÏO BDUVBMJ U[BS FM HVTU QFS M "OÓT EFM .POP DPN JOHSFEJFOU QSPUBHPOJTUB EF NPMUT EPMÎPT B USBWÏT EF OPWFT DSFBDJPOT "USFV M JOUFSÒT EF QBTUJTTFST EF UPUB &TQBOZB J mOT J UPU EF GPSB EF GFU FM HVBOZBEPS E BRVFTU BOZ ÏT VO QBTUJTTFS NFYJDË

$JHBMØ /PVWFBV (FMBUJOB $JHBMØ E "OÓT H JOGVTJØ EF DBGÒ FTQSFTTP r H MMFU TFODFSB r H TVDSF H "OÓT EFM .POP r HPUFT BOHPTUVSFT PQDJPOBM r GVMMFT HFMBUJOB t )JESBUBS MFT GVMMFT EF HFMBUJOB BNC BJHVB GSFEB BNC HFM t #BSSFKBS MMFU DBGÒ J TVDSF FO VO CPM J FTDBMGBS FO FM NJDSPP OFT TFOTF RVF BSSJCJ B CVMMJS t &TDØSSFS CÏ MFT GVMMFT EF HFMB UJOB IJESBUBEFT BGFHJS FM MÓRVJE DBMFOU J CBSSFKBS t "GFHJS M BOÓT J MFT HPUFT E BOHPTUVSB CBSSFKBS J SFTFSWBS 5SVGB EF 9PDPMBUB H MMFU TFODFSB r H DPCFSUVSB EF YPDPMBUB EFM r H TVDSF

t &O VO DBTTØ CBSSFKBS MB MMFU BNC FM TVDSF DPMtMPDBS B GPD MFOU o NJH J QPSUBS BM CVMMJNFOU SFNPWFOU EF UBOU FO UBOU t 6O DPQ BSSJCB BM CVMMJNFOU FT SFUJSB EFM GPD J T BGFHFJY B TPCSF MB DPCFSUVSB EF YPDPMBUB t &NVMTJPOBS TFOTF JODPSQPSBS BJSF B MB CBSSFKB

t 5BMMBS MB NBOUFHB FO USPTTPT QFUJUT J BGFHJS FMT TÛMJET t #BSSFKBS BNC MFT NBOT mOT B PCUFOJS VOB UFYUVSB EF TPSSB t $PMtMPDBS FO VOB TBGBUB BNC QBQFS EF GPSO J GPSOFKBS EVSBOU NJOVUT mOT PCUFOJS VOB UFYUVSB DSVJYFOU 1SFTFOUBS t &O VOB UBTTB USBOTQBSFOU NVOUBS VOB DBQB mOB EF MB USVGB EF YPDPMBUB DPMtMPDBS B MB OFWFSB mOT RVF T FOEVSFJYJ t 6O DPQ FOEVSJEB MB USVGB FT NVOUB VOB DBQB EF MB HFMBUJOB OPWBNFOU FT DPMtMPDB B MB OF WFSB QFS B RVBMMBS MB HFMBUJOB t "MUFSOBS DBQFT EF USVGB J HFMBUJOB mOT PCUFOJS FM EJCVJY EFTJUKBU t 1FS TFSWJS T BDBCB BNC MB OBUB $IBOUJMMZ J T FNQPMWPSBSË BNC FM DSVNCMF EF DBDBV

/BUB $IBOUJMMZ H OBUB . ( r H TVDSF t #BSSFKBS MB OBUB GSFEB EF OFWFSB BNC FM TVDSF J NVOUBS mOT FM QVOU EFTJUKBU $SVNCMF EF $BDBV H TVDSF CSV r H BNFUMMB FO QPMT r H GBSJOB r H DBDBV FO QPMT r H NBOUFHB TFOTF TBM t 1SFDBMFOUBS FM GPSO B $ t #BSSFKBS FMT TÛMJET FO VO CPM

-B (SBOKB EF $BO 5FJYJEØ -B -B (SBOKB EF $BO 5FJYJEØ (SBOKB EF $BO 5FJYJEØ -B (SBO KB EF $BO 5FJYJEØ -B (SBOKB EF %*7&/%3&4 * %*44"#5& /*5 $BO 5FJYJEØ -B (SBOKB EF $BO 5FJYJEØ -B (SBOKB EF $BO 5FJYJ .&/Á %&(645"$*» å EØ -B (SBOKB EF $BO 5FJYJEØ -B 401"34 1&3 " (3614 (SBOKB EF $BO 5FJYJEØ -B (SBO KB EF $BO 5FJYJEØ -B (SBOKB EF 4"-» 13*7"5 '*/4 " 1&340/&4 $BO 5FJYJEØ -B (SBOKB EF $BO 3&4&37&4 5&- 5FJYJEØ -B (SBOKB EF $BO 5FJYJ $ ."3 #"%"-0/" EØ -B (SBOKB EF $BO 5FJYJEØ -B

QBH JOEE

727 %DGDORQD

FRQVHOOV DQLPDOV GH FRPSDQ\LD YHWHULQDULV RSLQLÓ

DQLPÁOLD

CPKOÀNKC &OUSFNBMJBEVSFT

'B VOFT TFUNBOFT RVF T FNFU QFS UFMFWJTJØ VOB TÒSJF EF mDDJØ BNFSJDBOB FM TFV UÓUPM FT i.JÏO UFNFw J FT CBTB FO MB TVQPTBEB IBCJMJUBU EFMT TFVT QSPUBHPOJTUFT EF EFUFDUBS MFT NJDSPFYQSFTTJP OT GBDJBMT J DPSQPSBMT EF MB HFOU QFS TBCFS FO UPU NPNFOU TJ FMT FOHBOZFO P OP "JYÛ EF GFU OP FT QBT UBO OPV UPUT FMT RVF UFOJN HPTTPT TBCFN RVF FMMT EFUFDUFO QFSGFDUBNFOU FM OPTUSF FTUBU E ËOJN TJNQMFNFOU NJSBOU %F GFU VO FSSPS NPMU FTUFT FOUSF FMT QSPQJFUBSJT E BOJNBMT ÏT JOUFSQSFUBS RVF FM TFV HPT P HBU TBQ RVBO IB GFU BMHVOB FOUSFNBMJBEVSB EPOBU RVF RVBO

MB NBMJGFUB J EF GFU MB NBKPSJB EFMT FUÛMFHT OP BDPOTFMMFO SFO ZBS MPT KB RVF QPU BSSJCBS B TFS DPOUSBQSPEVFOU "OT BM DPOUSBSJ T IB EF USFVSF GFSSP BM UFNB J GFS DPN TJ OP IBHVÏT QBTTBU SFT KB TPMVDJPOBSFN EFTQSÏT MFT EFTUSPTTFT J QSPWBS E JOWFTUJHBS MFT QPTTJCMFT DBVTFT E BRVFTUB TJUVBDJØ BDDJEFOUT GPSUVÕUT BO TJFUBU QFS TFQBSBDJØ FUD

%F GFU QFMT RVF TJHVFV NÏT FTDÒQUJDT TJ WPMFV GFS MB QSPWB B DBTB UBO TPM UFOJV RVF MMFOÎBS RVFMDPN B UFSSB P VOB NJDB E BJHVB TFOTF RVF VO WFHJ OJOHÞ J GFS RVF BMHÞ BMUSF NFNCSF EF DBTB RVF OP DPOFJY IJ MB KVHBEB DSFHVJ RVF IB FTUBU FM OPTUSF HPT WFVSFV RVF MB SFTQPTUB EF M BOJNBM TFSË MB NBUFJYB RVF TJ IP IBHVÏT GFU FMM MB QPTJDJØ RVF BEPQUBSË TFSË SFBMNFOU VOB QP TJDJØ EF TVCNJTTJØ J OP EF DVMQB DPN NPMUB HFOU FT QFOTB 1FS DFSU M FYQFSJNFOU OP ÏT VO KPD J IFV E BQSPmUBS QFS USBORVJMrMJU[BS BM WPTUSF BOJNBM J QFS BQSFOESF WPTBMUSFT B OPSNBMJU[BS BRVFTU UJQVT EF TJUVBDJØ

BSSJCFN B DBTB J USPCFN BMHVOB EFTUSPTTB FO FM NPNFOU RVF FMT DSJEFN WFOFO BSSPTTFHBOU TF BNC MFT PSFMMFT CBJYBEFT mOT J UPU FO PDBTJPOT HFNFHBOU P QPTBOU TF QBOYB FOMBJSF DPN EFNBOBU QFSEØ %PODT CÏ FO SFBMJUBU FM RVF IB QBTTBU FT RVF FMMT IBO JOUFSQSFUBU FM OPTUSF UP EF WFV MB OPTUSB FYQSFTTJØ GB DJBM FWJEFOUNFOU FOGBEBUT J MB OPTUSB QPTUVSB DPSQPSBM J TBCFO RVF EFTQSÏT E BJYÛ FMT IJ DBVSË VOB CPOB SFQSJNFOEB 1FSÛ FM RVF FMMT OP TBCFO FT FM QFSRVÒ EF UPU QMFHBU EPOBU RVF TJ OP FMT BHBGFN iJO GSBHBOUJw FMMT OP SFMBDJPOFO M FTCSPODBEB BNC

"MGSFEP 0SUFHB $PM

DGRSWD P #-"/26*5" )FNCSB KPWFO NVZ DBSJ×PTB 4VT QSPQJFUB SJPT OP MB QVFEFO BOUFOEFS

(00': .BDIP NBZPS NVZ DBSJ×PTP 4V GBNJMJB OP MP QVFEF TFHVJS UFOJFOEP

"TPDJBDJØO 4FHVOEB 0QPSUVOJEBE "OJNBM "QBSUBEP QPTUBM

%h&/ #04$ (0'&3% $SFV #KT #BEBMPOB

5FM 'BY 727 %DGDORQD

QBH JOEE

BTPB!BTPB OFU

t "%*&453".*&/50 " %0.*$*-*0 t $3*" &9$-64*7" %& 30558&*-&3 "'*+0 %& (0'&3 ' $ * #"%"-0/" 5&- 1®(*/" 8&# %h&/ (0'&3%

/; # XXX BTPB OFU "QU #BEBMPOB

/HFWRUV

NGEVQTU

FDUWHV IRWR GHQÙQFLD SURWDJRQLVWD FRO ODERUDFLRQV

5PSUVSB #VT . BHSBEBSJB SFTQPOESF B MB TFOZPSB iBOÛOJNBw RVF WB FT DSJVSF VOB RVFJYB EFM USBOTQPSU QÞCMJD 5VTHTBM 1SJNFS EJS MJ RVF TJ O IJ IB E PCSFT B UPUB #BEBMPOB J DBO WJB FM SFDPSSFHVU P FMT MMPDT EF MFT QBSBEFT OP ÏT DVMQB EFMT DPOEVDUPST QSPV GFJOFT UFOFO BRVFTUT QFS iUSPCBSw VO BMUSF SFDPSSFHVU QFS QPEFS TFHVJS FM USBKFDUF

4FHPO TJ BSSJCFO UBSE FMT BV UPCVTPT OP ÏT QFSRVÒ FM DPO EVDUPS FT QBSJ B VO CBS B GFS VOFT CSBWFT BNC FMT BNJDT 4BQ WPTUÒ RVF IJ IB FNCVT TPT DPUYFT NBM FTUBDJPOBUT RVF OP EFJYFO USFCBMMBS DBSSFST UBMMBUT BWFSJFT 4BQ UBNCÏ WPTUÒ RVF QBTTFO IPSFT DPN B NÓOJN DPOEVJOU TFOTF QBSBS TFOTF QPEFS BOBS BM TFSWFJ &MT DPOEVDUPST OP UFOFO DVMQB

RVF QVHJO OPJT GVNBOU J BNC MB NÞTJDB BMUB EFMT NÛCJMT 1PESBO DSJEBS M BUFODJØ QFSÛ M FEVDBDJØ OP FT QPU FOTFO ZBS B M BVUPCÞT BJYÛ T BQSÒO B DBTB OPNÏT WVMM RVF HFOU DPN WPTUÒ FT QBSJ B QFOTBS VO NPNFOU RVF FMT DPOEVDUPST TØO USFCB MMBEPST FT QFSÛ QFS TPCSF EF UPU QFSTPOFT

EF UBOU FO UBOU FOT UJUMMJO EF iQPMÓUJDBNFOU DPSSFDUFTw 1FSÛ DPN B BTTPDJBDJØ OP FOT QPEFN TFOUJS JEFOUJm DBUT RVBO UJUMMB M PQPSUVOJTNF EF MB UFNËUJDB FTDPMMJEB QFS B M FYQPTJDJØ DPN FM NPUJV QSJO DJQBM QFS IBWFS QPHVU PCUFOJS M ÞT E BRVFTU FTQBJ / P ÏT M B QS JNFS B WF H BE B RVF #"5FOFV T FOEJOTB FO M VOJWFST EF MFT EPOFT QFSRVÒ FOT BHSBEB BQPTUBS QFS FMMFT J QFS MFT BQPSUBDJPOT EF GVUVS RVF QPEFO GFS FO BRVFTU NØO RVF ÏT EF UPUT J IP DPOUJ OVBSFN GFOU NÏT FOMMË EF UPU UJQVT E PQPSUVOJTNFT DPN IP GFN UBNCÏ BNC BTQFDUFT DPN MB NVMUJDVMUVSBMJUBU FOUSF E BMUSFT 1FS UBOU FOT IBHVÏT

BHSBEBU NÏT RVF MB QFSJPEJTUB BQPTUÏT NÏT B GPOT FO FM UF NB E VCJDBS M FYQPTJDJØ FO VO FTQBJ RVF DPN FM 7JWFS RVF QPESJB BDBCBS FTEFWFOJOU VO FTQBJ QPMJWBMFOU QFS B MB DJVUBU J NPMU NÏT iWJTJUBCMFw RVF MFT TBMFT E BS U DPOWFODJPOBMT 'JOBMNFOU EJS RVF #"5FOFV FM EJB EF MB JOBVHVSBDJØ EJKPVT E PDUVCSF RVF EJU EF QBTTBEB WB TFS VO ÒYJU EF QBSUJDJQBDJØ BNC M BTTJTUÒODJB E VOFT QFSTPOFT WB FYQPTBS FM RVF QPESÓFN EJS VOB EFDMBSBDJØ EF QSJODJQJT w&OUFOFN M BSU J FO HFOFSBM MB DVMUVSB FO MB NFTVSB RVF USBOTDFOEFJY B M BSUJTUB TJOØ OP ÏT BSU OP ÏT DVMUVSBw

6TVBSJ EF 5VTHTBM

*OUFSQSFUBDJPOT &O FM OÞNFSP EF 505 #"%"-0/" MB QFSJPEJTUB 4SB (JOB EF 5FSB iJOUFSQSFUBw MB * &YQPTJDJØ $PMtMFDUJWB E "SUJTUFT #BEBMPOJOFT 1FSÛ QBSBGSBTFKBOU BM QPFUB EJSFN RVF MFT JOUFSQSFUBDJP OT JOUFSQSFUBDJPOT TØO /P PCTUBOU FOT BHSBEBSJB GFS FMT TFHàFOUT DPNFOUBSJT BM SFTQFDUF &OT IB BHSBEBU M FTUJM JSÛOJD EF MB QFSJPEJTUB FOT IB BHSB EBU UBNCÏ RVBO EJV RVF #" 5FOFV i yÏT MB SFTQPOTBCMF E VOB JOUFSFTTBOU FYQPTJDJØ B MB QMBOUB CBJYB EF M &EJm DJ EFM 7JWFSw J UBNCÏ FOT IB BHSB EBU RVBO EJV RVF WBM MB QFOB WJTJUBS M FYQPTJDJØ 5BNCÏ FOT TFNCMB CÏ RVF TJ NÏT OP

#"5FOFV

*ODJWJTNP UPEPT MPT EÓBT *ODJWJTNP FO MB DBMMF $BMEFSØO EF MB CBSDB DPO *TTBD "MCF ×J[ 4VDJFEBE PMPSFT B PSJOB

3DUOHV KDELWXDOPHQW HQ FDWDOj L YROGULHV DMXGDU DOJ~ DOWUH TXH QHFHVVLWD SUDFWLFDU OR"

7X S RW V VHU YROXQW DU L D 3DUOHV XQD PLTXHWD GH FDWDOj SHUz HW FRVWD SUDFWLFDU OR HQ HO WHX HQWRUQ"

7X SRW V VHU DSUHQHQW D

QBH JOEE

EF EJF[ NFTFT Z FTQFSP QPEFS JSNF BOUFT EF RVF DSF[DB

MJUSPOBT EF DSJTUBM QPS UPEBT QBSUFT +BMFP OPDUVSOP DBEB Y QFMFBT 5FOHP VO CFCÏ

$JWJTNF

6L HWV PDMRU G¶HGDW L WHQV XQD KRUD D OD VHWPDQD SHU SDUODU HQ FDWDOj DPE DOJ~ DOWUH D O¶KRUD DO OORF L VREUH HOV WHPHV TXH YXOJXHX

, VL MD VRX YROXQWDULV R DSUHQHQWV XV FRQYLGHP D SDUWLFLSDU HQ HO , &RQFXUV )RWRJUj¿ F GHO 9[/ GH %DGDORQD L 6DQW $GULj GHV G¶DUD PDWHL[ L ¿ QV DO PHV GH IHEUHU GH 3RGHX JXDQ\DU XQ &XUV G¶LQLFLDFLy D OD IRWRJUD¿ D D FjUUHF GH O¶$JUXSDFLy )RWRJUj¿ FD 6DQW -RDQ %DSWLVWD LQIR WUXFDQW DO %ODQFD 6DOD R $QQD *DOOHJR R DO ZHE ZZZ FSQO FDW EDGDOR QD D O¶DSDUWDW 1RYHWDWV GH 9ROXQWDULDW SHU OD OOHQJXD

&20 86 +, 32'(8 $3817$5" Ɣ $O ZHE ZZZ Y[O FDW R DO ZHE GHO &1/ GH %DGDORQD L 6DQW $GULj ZZZ FSQO FDW EDGDORQD FOLFDQW OD LFRQD GH 9ROXQWDULDW SHU OD OOHQJXD

Ɣ $O &1/ GH %DGDORQD L 6DQW $GULj DY G¶$OIRQV ;,,, HQWO D Ɣ 7UXFDQW DO WHOqIRQ %ODQFD 6DOD R $QQD *DOOHJR

Ɣ (QYLDQW XQ FRUUHX HOHFWUzQLF D %ODQFD 6DOD EVDOD#FSQO FDW

727 %DGDORQD

- BOEBOB EFM NFUSP EF MB MÓOJB EF M FTUBDJØ 1PNQFV 'BCSB B #BEBMPOB FTUË QMFOB EF WJBUHFST JNQBDJFOUT -B HFOU FOUSB SËQJEBNFOU B M PCSJS TF MFT QPSUFT BVUPNËUJRVFT QFS UBM E BTTFVSF T BMT QPDT TFJFOUT MMJVSFT RVF SFTUFO BM WBHØ &N NBOUJOD ESFU BM DPTUBU EF EVFT EPOFT QFSDFCP VO QFS GVN EFOT J FM TP EF MFT TFWFT WFVT NPMU B QSPQ E PSFMMB 6OB EF MFT EPOFT FYQSFTTB FM EVCUF E BMMÛ RVF QFOTBSJB FM 4S 1PNQFV 'BCSB J 1PDI BM WFVSF FM TFV OPN BTTPDJBU BNC VOB FTUBDJØ EF NFUSP J EJV RVF QPUTFS B FMM M IBVSJB BHSBEBU NÏT WFVSF M SFMBDJP OBU NÏT FOMMË EFM NPOÛMJU

DPNNFNPSBUJV TJUVBU BM DB SSFS "TTFNCMFB EF $BUBMVOZB BNC FM OPN E VOB CJCMJPUFDB P E BMHVO FRVJQBNFOU DVMUVSBM EPOBU RVF MB TFWB QBTTJØ WB TFS M FTUVEJ EF MFT MMFUSFT DBUB MBOFT J MB TFWB OPSNBMJU[BDJØ &M NFTUSF EF NFTUSFT DPN EJVFO BMHVOT - BMUSB BDPNQBOZBOU FT EØOB DPNQUF EF MB NFWB BUFODJØ FO FM EJËMFH J FN MMBOÎB VOB NJ SBEB EJSFDUB DPN TJ FN DPO WJEÏT B QBSUJDJQBS FO FM EFCBU QFSÛ DPN FM NFV USBKFDUF FTUË B QVOU EF mOBMJU[BS EJTTJNVMB EBNFOU HJSP FM DBQ FO EJSFD DJØ B MB QPSUB EF TPSUJEB J FN EFTFOUFOD GÓTJDBNFOU RVF OP NFOUBMNFOU EF MB DPOWFSTB &MT WJBUHFST FOT BHMVUJOFN

QFS TPSUJS J NFOUSF T PCSFO MFT QPSUFT EFM WBHØ QFOTP RVF VOB BMUSB QPTTJCJMJUBU IBHVÏT FTUBU BOPNFOBS M FTUBDJØ BNC FMT OPNT BNC FMT RVF TFNQSF IB FTUBU DPOFHVEB MB [POB DBSSFS "OTFMN $MBWÏ "MDBMEF 9JGSÏ $BO 'SBEFSB P #BEBMP OB DFOUSF

TV QSPGFTJØO B MB QFSGFDDJØO 2VJFSP EBS MBT HSBDJBT QÞCMJ DBNFOUF B MPT RVF IBO IF DIP FTUP QPTJCMF &NQF[BOEP QPS FM NÏEJDP EF GBNJMJB %S .BSUÓOF[ EFM $"1 EFM (03( FO #BEBMPOB Z TPCSF UPEP BM HSBO FRVJQP EF OFVSPMPHÓB EFM )PTQJUBM 6OJWFSTJUBSJ (FSNBOT

5SJBT J 1VKPM )6(5*1 EFM %S %ÈWBMPT MPT %ST %PNÓOHVF[ Z $BTUB×P DPO QSPGFTJPOBMFT BTÓ MPT QBDJFOUFT EF MB TFHVSJEBE TPDJBM FTUÈO FO NVZ CVFOBT NBOPT .VDIBT HSBDJBT QPS QFSNJUJSNF TFHVJS EJTGSVUBOEP EF MB WJEB

/HFWRUV

&TUBDJØ EF NFUSP 1PNQFV 'BCSB

%VSBOU M JUJOFSBSJ RVF FN QPSUB QFS QBTTBEJTTPT EFDPSBUT BNC HSBOT SÒUPMT QVCMJDJUBSJT SVNJP RVF NÏT FOMMË EFM OPN FM NÏT JNQPSUBOU ÏT MB OPWB QSPMPOHBDJØ EF MB MÓOJB EFM NFUSP mOT BM DFOUSF EF MB DJV UBU /PVT QSPKFDUFT QFS B VOB #BEBMPOB NJMMPS DPOOFDUBEB J QSPQFSB .BSJ $BSNFO -P[BOP

.JM HSBDJBT /P RVJFSP EFKBS FO FM BJSF FTUB GFDIB UBO JNQPSUBOUF QBSB NJ Z NJ GBNJMJB -B HFOUF GFTUFKB TV DVNQMFB×PT MB GFDIB EF TV OBDJNJFOUP QFSP FO MB WJEB IBZ DJSDVOTUBODJBT RVF IBDFO RVF UÞ QVFEBT DFMFCSBS NÈT BOJWFSTBSJPT HSBDJBT B QFSTP OBT RVF DVNQMFO FM DØEJHP EF

& $ .

2VJOB BVUPSJUBU &TU J D N P M U E F D F Q D J P O BE B BNC MB OPTUSB BVUPSJUBU ÏT B EJS BNC MB HVËSEJB VSCBOB +P TØD DJVUBEBOB RVF QPSUP NPUP WJTD B #BEBMPOB QFSÛ USFCBMMP B 4BOUB $PMPNB EF (SBNFOFU J MB WFSJUBU RVF FN WB NPMU CÏ QFS BOBS B USF CBMMBS - BMUSF EJB WJOFOU EFM USFCBMM WBJH FTDPMUBS VO NF HËGPO RVF FN EFJB i1PS GBWPS EFUÏOHBTF B MB EFSFDIB w +P PCFJOU MB WFV EF M BHFOU FN WBJH BUVSBS &N EFNBOFO MB EPDVNFOUBDJØ FN EFNBOFO FMT QBQFST J MJ EPOP /P FTUBWB QBT QBUJOU QFSRVÒ QPSUP UPU FO SFHMB J OP N IBWJB TBMUBU

UBSEFT FT mRVFO BM DPUYF J TF O WBO &N WBJH RVFEBS BMMË QMBOUBEB TFOTF TBCFS RVF GFS /P ÏT KVTU RVF GBDJO BRVFTUFT DP TFT QFSRVÒ QFS EFTHSËDJB IJ IB DPTFT RVF WFSEBEFSBNFOU FT UFOFO RVF EFOVODJBS P QP TBS BMHVOB TPMVDJØ J OP FT GB 4VQPTP RVF UJOESÏ RVF QBHBS MB NVMUB FODBSB RVF OP TJ HVFT KVTUB QFSRVÒ OP IJ IBWJB OJOHVO UFTUJNPOJ EBWBOU )F BSSJCBU B MB DPODMVTJØ RVF FN WBO NVMUBS QFS MB DBSB EFHVU B MB DSJTJ &TQFSP RVF OP FT SFQFUFJYJ MB NBUFJYB IJTUPSJB

DBQ TFNËGPS OJ IBWJB EFT PCFÕU FMT TFOZBMT -J EPOP FMT QBQFST QVKB BM DPUYF J TVQPTP RVF FTUBSJB DPNQSPWBOU UPUFT MFT EBEFT % BRVFTUFT RVF CBJYB EFM DPUYF FN EØOB MB EPDVNFOUBDJØ J FN EJV 5FOT UPU CÏ QFSÛ FU QPTP VOB NVMUB QFS TBMUBS UF FM TFNËGPS EFM DBSSFS *SMBOEB * KP BMtMVDJOBOU 4J OP IBWJB QBTTBU QFS BRVFTU DBSSFS "NC MB NFWB JOOPDÒODJB MJ EJD RVF FN EJTDVMQÏT QFSÛ RVF KP OP IBWJB QBTTBU QFS BRVFTU DBSSFS %F TPCUF FN EØOB MB EFOVODJB J FN EJV #VFOBT

1BOLZ #SVTUFS

5PUFT MFT DBSUFT EFMT MFDUPST BM OPTUSF XFC XXX FMUPUEJHJUBM DPN DBSUFT EFMT MFDUPST 727 %DGDORQD

QBH JOEE

/HFWRUV

WX HWV HO SURWDJRQLVWD 'BT BOZT )FV DFMFCSBU FMT WPTUSFT QSJNFST BOZT KVOUT 1PSUBhOT P FOWJBhOT VOB GPUPHSBmB J FM SFEBDUBU EF UFYU 1FS OPNÏT å GFT VO SFHBM PSJHJOBM $ -MFØ PO B #BEBMPOB

.BSJB

- "KVOUBNFOU EF #BEBMPOB FT DPOUSBEFJY 4PD QSPQJFUËSJB E VO QJT &M UJOD MMPHBU 'JOT BRVÓ UPU DPSSFDUF -B NFWB TPSQSFTB IB FTUBU RVBO IF BOBU B M "KVOUBNFOU QFSRVÒ TÏ RVF BMMË IJ IB FNQBESPOBEB NÏT HFOU EFM DPNQUF KB RVF FMT BOUFSJPST OP T IBO EPOBU EF CBJYB NÏT FMT E BSB SFQSF TFOUFO NVMUJUVE * SFTVMUB RVF MB TFOZPSB RVF N IB BUÒT B MFT PmDJOFT FN EJV RVF OP UJOD ESFU B TBCFS IP KB RVF IJ IB VOB MMFJ EF QSPUFDDJØ EF EBEFT -B NFWB QSFHVOUB ÏT $PN QPU TFS RVF VO QSPQJFUBSJ EFNPTUSBOU MB SFOÞODJB EFMT BOUFSJPST FM OPV DPOUSBDUF BNC FMT OPVT MMPHBUFST J UPU FM QBQF

SBN OP QVHVJ TBCFS MB RVBOUJ UBU EF HFOU RVF UÏ EJOT EFM TFV QJT %FTQSÒT T IB EF TFOUJS B EJS RVF IJ IB QJTPT QËUFSB TJ M "KVOUBNFOU TØO FMT QSJNFST EF GFS EF DBNVnBUHF J EFTQSÏT QPEFS EJS 4 IB GFU BJYÛ T IB GFU BMMÛ QFSRVÒ OP DPNFODFO FO GBDJMJUBS MFT DPTFT BMT QSPQJFUB SJT J OP IJ IBVSJB QJTPT QËUFSB KB RVF MMBWPST TJ RVF QPESJFO EJS RVF FM QSPQJFUBSJ IP DPOTFOU % BRVFTUB NBOFSB OP KB RVF BM NFV QJT J DPOTUB NPMUB HFOU FNQBESPOBEB J OP ÏT SFBM KB RVF IBVSJB EF TFS USFT QFSTPOFT RVF TPO FMT RVF IJ WJVFO &TUFMB

SRHVÍD DPDWHXU +B UFOT BOZT 6OB NJDB NÏT RVF KP QFSÛ VOB NJDB NFOZT RVF VO RVF IB TBQT 'FMJDJUBUT EF UPUB MB DPMMB

&OWJBOhT MFT UFWFT DBSUFT

.JHVFM 1PWFEB 4JO DPOPDFSUF UF DPOP[DP QPSRVF FSFT USBOTQBSFOUF QPSRVF UJFOFT MB NJSBEB MJNQJB Z MPT PKPTy EF CVFOB QFSTPOB QPSRVF TJFOUFT PSHVMMP EF MB UJFSSB EPOEF OBDJTUF Z TF UF MMFOB FM BMNB DVBOEP QSPOVODJBT #BEBMPOB TJO DPOPDFSUF UF DPOP[DP QPSRVF FSFT IVNJMEF QPSRVF EFmFOEFT MB DVMUVSB EF QBSUF B QBSUF ZB TFB FM DBOUF KPOEP P B MPT QPFUBT DBUBMBOFT UV TJFNQSF TBCFT IBDFS EFM nBNFODPy VO BSUF y " WFDFT TF DJFSOFO MBT EVEBT TPCSF NJ DBCF[B Z NF QSFHVOUP {TJ FYJTUF P OP FYJTUF VO %JPT Z DVBOEP UF FTDVDIP DBTJ BmSNP DPO DFSUF[B RVF UBO TPMP &M QVEP EBSUF FTB WP[ QPSRVF OP IBZ DJFODJB FO MB UJFSSB DBQB[ EF DSFBS FTB JONFOTB HBSHBOUB UBO TPMP VOB DSFBDJØO EJWJOB RVF UF EJDF i .JHVFM MFWÈOUBUF Z DBOUBw

&OWJBOhT MFT DBSUFT P GPUPT EFOÞODJB t ²T PCMJHBUPSJ FM OPN EBEFT %/* P QBTTBQPSU EF M BVUPS t $BQ EPDVNFOU RVF FOT TJHVJ FOWJBU TFSË SFUPSOBU

` BIÓ TJ UF FTDVDIBSB .BSDIFOB 'BSJOB P 1JOUP `BIÓ TJ UF FTDVDIBSB .BJSFOB P FM HSBO $BNBSØO TFHVSP RVF EJSÓBO UÞ `UV TJ RVF WBMFT QPSRVF OP DBOUBT DPO MB CPDB TJOP DPO FM DPSB[ØO EJSÓBO UV FSFT GSVUP EF OVFTUSB DPTFDIB TBOHSF EF MBT TBOHSF EF OVFTUSB CPEFHB UV ZB FSFT VO CPVRVFU DPO OPNCSF Z GFDIB i EFM GFCSFSP EF .JHVFM 1PWFEBw

t &M 505 FT SFTFSWB FM ESFU B SFEVJS J FEJUBS MFT DBSUFT RVF IP SFRVFSFJYJO J QVCMJ DBS BRVFMMFT RVF DPOTJEFSJ PQPSUÞ t /P FT NBOUJOESË DPSSFT QPOEÒODJB OJ T BUFOESBO WJTJ UFT P USVDBEFT SFTQFDUF FMT PSJHJOBMT FOWJBUT P QVCMJDBUT

.BOVFM 1FJOBEP 1ÏSF[ -JMMP EF -PCBS

$ -MFØ O B #BEBMPOB CBEBMPOB!FMUPUEJHJUBM DPN

QBH JOEE

727 %DGDORQD

FRQVXOWRUL FRPXQLWDWV ODERUDO ILVFDO DVVHVVRULD

FRQVXOWRUL

EQPUWVQTK NGICN

-B FOGFSNFEBE QSPGFTJPOBM FT BRVFMMB RVF FTUB QSPWPDBEB QPS MB BDDJØO EF EFUFSNJOBEBT TVTUBODJBT P FMFNFOUPT

-B FOGFSNFEBE QSPGFTJPOBM

EF PCTFSWBDJØO BM USBCBKBEPS QBSB SFBMJ[BS VO FTUVEJP NÏEJDP QSFWFOUJWP B MB EFDMBSBDJØO Z SFDPOPDJNJFOUP EF MB FOGFSNF EBE EJDIP QFSÓPEP OP QVFEF TFS TVQFSJPS B NFTFT QFSP QVFEF TFS QSPSSPHBEP NFTFT NÈT TJFNQSF RVF TF FTUJNF DPOWFOJFOUF (BCJOFUF +VSÓEJDP )FSOÈOEF[ 7JDFOUF IW!HBCJOFUF OFU

&TUB TFNBOB BOBMJ[BSFNPT MBT DBSBDUFSÓTUJDBT Z DPOUFOJEP EF MBT FOGFSNFEBEFT QSPGF TJPOBMFT -BT FOGFSNFEBEFT QSPGFTJP OBMFT TPO DPOTJEFSBEBT VO BDDJEFOUF MBCPSBM QFSP EF CJEP B TV OBUVSBMF[B HP[BO EF VO SÏHJNFO EF QSPUFDDJØO QBSUJDVMBS -B FOGFSNFEBE QSPGFTJPOBM FT BRVFMMB DPOUSBÓEB DPO PDBTJØO EFM USBCBKP RVF TF SFBMJ[B QPS DVFOUB BKFOB FT OFDFTBSJP RVF MB FOGFSNFEBE FTUÏ QSPWPDBEB QPS MB BDDJØO EF EFUFSNJOBEBT TVTUBODJBT P FMFNFOUPT -BT FOGFSNFEBEFT QSPGFTJPOB MFT TF FTUSVDUVSBO FO EJWFSTPT

HSVQPT TPO MPT TJHVJFOUFT %VSBOUF FM UJFNQP RVF EVSF FM QFSÓPEP EF PCTFSWBDJØO FM USBCBKBEPS TF FODVFOUSB FO VOB TJUVBDJØO BTJNJMBCMF B MB EF JODBQBDJEBE UFNQPSBM Z QPS FMMP QFSDJCF VOB QSFTUBDJØO FDPOØNJDB

t (SVQP $BVTBEBT QPS BHFOUFT RVÓNJDPT t (SVQP $BVTBEBT QPS BHFOUFT GÓTJDPT t (SVQP $BVTBEBT QPS BHFOUFT CJPMØHJDPT t (SVQP $BVTBEBT QPS JOIBMBDJØO EF TVTUBODJBT Z BHFOUFT OP DPNQSFOEJEBT FO PUSPT BQBSUBEPT t (SVQP &OGFSNFEBEFT QSPGFTJPOBMFT EF MB QJFM DBVTB EBT QPS TVTUBODJBT Z BHFOUFT OP DPNQSFOEJEPT FO BMHVOP EF MPT PUSPT HSVQPT t (SVQP $BVTBEBT QPS BHFOUFT DBSDJOPHÏOJDPT

DPOTVMUPSJ {)BZ VO QFSÓPEP EF DPUJ [BDJØO NÓOJNP FO FM DBTP EF MBT FOGFSNFEBEFT DP NVOFT QBSB UFOFS EFSFDIP B DPCSBS FM TVCTJEJP QPS JODBQBDJEBE UFNQPSBM 4Ó FT OFDFTBSJP RVF MB QFS TPOB IBZB DPUJ[BEP EÓBT EFOUSP EF MPT B×PT BOUF SJPSFT

-B FOUJEBE HFTUPSB FT MB RVF TF FODBSHB EF MB DBMJm DBDJØO EF MBT FOGFSNFEBEFT DPNP QSPGFTJPOBMFT

&OWÓFOPT TVT QSFHVOUBT TPCSF %FSFDIP "ENJOJTUSBDJØO EF $PNVOJEBEFT P "TFTPSÓB IW!HBCJOFUF OFU

&O BMHVOBT PDBTJPOFT SFTVMUB OFDFTBSJP NBOUFOFS FO QFSÓPEP

$ERJDGRV $FFLGHQWHV 7Ui¿ FR /DERUDOHV $GPLQLVWUDFLyQ &RPXQLGDGHV $XWyQRPRV /DERUDO )LVFDO $VHVRUHV

%FMFHBDJØO #BEBMPOB r D $PMM J 1VKPM #BEBMPOB

%FMFHBDJØO 1SFNJË r (SBO 7JB 1SFNJË

727 %DGDORQD

QBH JOEE

727 %DGDORQD

1MBOUJMMB#BTF JOEE

=ÁSLQJ %JKPVT EhPDUVCSF I .BHB[JOF 4Ï MP RVF IJDJTUFJT

%JWFOESFT EhPDUVCSF

%JTTBCUF EhPDUVCSF

%JVNFOHF EhPDUVCSF

I 4ÒSJF

I *OGBOUJM

I )VNPS

4NBMMWJMMF 4ÒSJF RVF TF HVFJY MFT BWFO UVSFT EFM KPWF $MBSL ,FOU B MB DJVUBU EF 4NBMM WJMMF EVSBOU FMT BOZT BCBOT RVF TJHVJ 4VQFSNBO

%JMMVOT EhPDUVCSF I 1SPHSBNB

%PSBFNPO

+VTU GPS MBVHIT

&NJTTJØ EF EPT DBQÓUPMT EF MB TÒSJF EF EJ CVJYPT BOJNBUT QSPUBHPOJU[BUT QFS VO HBU DÛTNJD

i+VTU GPS MBVHITw USBTMMBEB FM HÒOFSF EF MB DËNFSB PDVMUB B VO OPV OJWFMM BNC USVDT DVSUT QFSÛ DPN QMFYPT

&M $PSP EF MB $ÈSDFM

I 1FMrMÓDVMB *OmMUSBUT &M %FQBSUBNFOU EF 1PMJDJB EF .BTTBDIVTTFUT WPM BDBCBS BNC FM SFHOBU EFM NBmØT 'SBOL $PTUFMMP

1SPHSBNB RVF CBSSFKB MB JSPOJB J M IVNPS 1SFTFO UFO ®OHFM .BSUÓO J 1BUSJDJB $POEF

727 %DGDORQD

QBH JOEE

6O HSVQ E JOUFSOT QSPUB HPOJU[FO BRVFTU FTQBJ RVF CVT RVFO VOB OPWB BWFOUVSB B MFT TFWFT WJEFT

KRU¶VFRSV ®3*&4 BM

$3"/$ BM

#"-"/±" BM $"13*$03/ BM

4 F S B O V O T E J F T E FOGSPOUBNFOUT B DBTB BNC MB GBNÓMJB )BVSFV EF UFOJS NÏT QBDJÒO DJB EFM OPSNBM MB DSJTQBDJØ ÏT HSBO QFS NPUJVT EJWFSTPT J DBM NBOUFOJS TF NPMU TFSÒ J DMBS 4J WFJFV RVF MB DPTB QFSE FM DPOUSPM SFTQJSFV B GPOT J UPSOFV B DPNFOÎBS 4PSU RVF FO FM UFNB E BNJTUBUT MB DPTB QJOUB NPMU CÏ

)J IB VOB UFOEÒODJB NPMU HSBO B RVF FTUJ HVFV NPMU TFOTJCMFT BRVFTUT EJFT DPTB RVF VT QPU GFS USBTCBMTBS GËDJMNFOU IFV EF NJSBS EF OP QSFPDVQBS WPT HBJSF J TPCSFUPU TJ QPEFV TPSUJS VOB NJDB J FTUË BNC BMUSF HFOU RVF OP TJHVJ EF MB GBNÓMJB NJMMPS &MT UFNFT GBNJMJBST VT BGFDUBSBO NÏT RVF EF OPSNBM J OP DBM QBUJS QFS SFT

)J IB NPMU EF NPWJ NFOU BRVFTUT EJFT TFNCMB RVF UPU VT WBHJ EF QPUFT FOMBJSF QFSÛ BNC CPO GJ DPTB RVF ÏT E BHSBJS 1BSMBOU DMBS FMT WPTUSFT DBOWJT E IVNPS TFSBO NPOVNFOUBMT J FMT RVF FTUBOU BM WPTUSF WPMUBOU OP TBCSBO QBT DPN T IBO E BHBGBS FM RVF FMT IJ EJFV VT BOJSJB CÏ GFS VOB QFUJUB SFnFYJØ

6T FTUFV DBQGJDBOU NBTTB B MB GFJOB J BJYÛ OP ÏT CP KB RVF DPN NÏT IJ QFOTFV QJUKPS EF WFHBEFT ÏT NJMMPS GFS MFT DPTFT QFS JOÒSDJB RVF OP QBT QFOTBS IJ HBJSF -B DPTB WB MMJ HBEB BNC MB WPTUSB FDPOPNJB J FMT WPTUSFT QSPKFDUFT WPMFV GFS NPMUFT DPTFT KB J OP FT QPU EPODT M ÞOJD SFNFJ ÏT MB QBDJÒODJB RVF UPU BSSJCBSË

5"63& BM

--&» BM

&4$031¶ BM "26"3* BM

5JOESFV VO HSBO TVQPSU &O FM DBNQ FNPDJP 5FOJV NPMU CFO TJUVBU -B DPTB QJOUB GPSÎB CÏ FM WPTUSF DBNQ MBCP SBM DPTB RVF VT QPU BGBWPSJS FO VO NPNFOU EPOBU MB WPTUSB USBKFDUÛSJB &M QSJNFS RVF IFV EF DPOUSPMBS ÏT DPN FTUFV BDUVBOU B MB GFJOB P FO M BTQFDUF EF CVTDBS GFJOB J MMBWPST WFVSFV PO GBMMFV J PO M FODFSUFV MB WPTUSB WJTJØ TFSË DMBSB J VT TFSË GËDJM EF USPCBS MB NBOFSB EF QVKBS FTHMBPOT

DPN QFSRVÒ T BSSFHMJO IJTUÛSJFT EFM QBTTBU J DPNFODFV B WFVSF DPN MB WPTUSB FDPOPNJB GB VO UPNC DBQ BM CPO DBNÓ DPTB TFNQSF CPOB KB RVF FMT EJOFST OP GBO MB GFMJDJUBU QFSÛ EF WFHBEFT BKVEFO VOB NJDB B NJMMPSBS MFT DPTFT )BVSFV EF UFOJS NPMUB SFTQPOTBCJMJUBU B MB GFJOB P FO FMT FTUVEJT

OBM IP UFOJV NPMU CÏ KB RVF TFSË GËDJM FOB NPSBS B RVJ WVMHVFV J NBOUFOJS FM TFV FOBNPSBNFOU mOT RVF VT TFNCMJ QFSÛ OP FTUBS CÏ KVHBS BNC FMT TFOUJNFOUT EF MB HFOU J RVF TJ KVHVFV UBSE P E IPSB BMHÞ UBNCÏ QPU KVHBS BNC WPTBMUSFT - ÞOJD UFNB GV NVU TFSË M FDPOÛNJD DPTB RVF VT GBSË FTUBS BNC ËOTJB

QFS QBSU EF MB GBNÓMJB ÏT DPN TJ MB GBDJMJUBU EF DPNVOJDBDJØ FOUSF WPTBMUSFT BOÏT DSFJYFOU QFS NPNFOUT J BJYÛ VT GFT TFOUJS NPMU NÏT FTUBCMFT J BNC NÏT GPSÎB JOUFSJPS DBM BQSPmUBS IP KB RVF OP QBTTB TFNQSF RVF IJ IBHJ BRVFTU CPO SPUMMP 4 IB EF SFDPOÒJYFS RVF UBNCÏ FTUFV GFOU VOB HSBO GFJOB

#&440/4 BM 7&3(& BM

4"(*5"3* BM 1&*904 BM

%JFT EF USBORVJMtMJUBU & TUFV USFODBOU FT 5JOESFV VOB GBDJMJUBU EF 5FOJV VOB GBDJMJUBU NPMU DPOWJDDJØ NPMU HSBO DPTB RVF VT BOJSË CÏ FO M BTQFDUF RVF DPOWFODFSFV B RVBMTFWPM EFM RVF WVMHVFV J BJYÛ ÏT CP TFNQSF J RVBO OP VT QBTTFV EF MB SBUMMB RVF EF WFHBEFT VO FT QBTTB J BJYÛ UBNQPD FTUË CÏ /P DBM RVF KVHVFV B MB MPUFSJB QFSRVÒ IP UFOJV NPMU NBMBNFOU BMNFOZT BRVFTUT EJFT

J EF CFOFTUBS KB VT DPOWÏ QFSRVÒ ÞMUJNB NFOU FMT OFSWJT VT BUSBQBWFO NÏT EFM RVF WPMÓFV QFSÛ QPD B QPD IFV BOBU EFTDPCSJOU RVF IJ IB NPMUFT DPTFT B GFS RVF WBMFO MB QFOB J RVF OP DBM BUBCBMBS TF UBOU 5JOESFV NPMU CPO DPOUBDUF BNC MFT EPOFT EF MB GBNÓMJB J TFSË VO CPO NPNFOU QFS QBSMBS

HSBO E FTUBS DPOUFOUT J BJYÛ FTUË NPMU CÏ TJ UFOJN FO DPNQUF RVF UFOJV VO NVOU EF HFOU USJTUB BM WPMUBOU RVF OFDFTTJUB EF MB WPTUSB BMFHSJB 4J QPEFV OP QSJWFV B OJOHÞ EFM WPTUSB CPO SPUMMP J SFQBSUJV MP B UPSU J B ESFU 1PUTFS OP QPESFV GFS FMT WPTUSFT QSPKFDUFT QFSÛ TFSFV QBDJFOUT QFS FTQFSBS

RVFNFT FMT WPTUSFT QFOTBNFOUT WBO FO DBSBUT B CVTDBS MB NBOFSB EF USPCBS TFOUJU B MB WPTUSB WJEB J EF NFNPSJU[BS FM RVF IFV GFU mOT BSB TJ IB TFSWJU QFS BMHVOB DPTB P OP .JMMPS OP QFOTBS UBOU J EFJYBS RVF MFT DPTFT nVFJYJO QFM TFV QSPQJ UBSBOOË BOBMJU[BS ÏT CP mOT B VO QVOU

SDVVDWHPSV

/JWFMM EJGÓDJM

/JWFMM GËDJM

0NQMJV MFT DBTFMMFT CVJEFT EFM SFRVBESF EF Y RVBESBUT BNC YJGSFT EF Mh BM /P ThIB EF SFQFUJS DBQ OÞNFSP FO VOB NBUFJYB mMB IPSJU[POUBM P WFSUJDBM OJ TVCRVBESJDVMB EF Y 1FS 4VEPLVT8FC DPN

QBH JOEE

727 %DGDORQD

SDVVDWHPSV

5"305 %&

1"26*5" ."35¶/&;

5BSPU FWPMVUJWP 5JFOFT EVEBT "NPS USBCBKP EFQSFTJØO #VTDBT SFTQVFTUBT

"UJFOEP QFSTPOBMNFOUF 5FSBQFVUB FTQJSJUVBM .ÈYJNB TFSJFEBE

7JTJUBT DPODFSUBEBT

4PMVDJPOT B MB TFDD FDPOÛNJDT

1PS BMUB 4 - $ 0SFOTF 1SFDJP GJKP &VS .ØWJM &VS .BZPSFT EF B×PT

1FS 1BV 7JEBM

',5(&725, 7DURW 5&-

QBH JOEE

*)/3$

/ -*/ d 1$ ) $ d 40 .+$-$/0 '

4E0 3D0AC4

4& %"/ $-"4&4 %& .«(*" $0/ 7&-"4 727 %DGDORQD

7&35*$"-4 $JN EF M BSRVJUFDUVSB HÛUJDP NPEFSOJTUB 6O EFMT NPMUT RVF UFOJFO SFHOFT B M "M "OEBMVT 7JV FO FM EFTFSU %FM DPT RVF UÏ FM NBUFJY FJY RVF VO BMUSF E BTDFOEFOU 3VEF J JOOPCMF $PN RVF UÏ CSBO RVFT BNBHB VOB NPSTB )B QBTTBU EF NPEB TFHVSBNFOU UPU TPMFU

&M QMBU EF DBSO QSFGFSJU EFMT GSFBLT J EFMT RVF OP 6O FMFNFOU SBEJPBDUJV B MB UPSSBEPSB %PO DBÛUJD " NÏT EF TFS EFMJDUF E IPNJDJEJ ÏT VOB GBMUB EF SFTQFDUF "SSFODB FM QMPS $PN RVF UÏ SBVYFT EPODT ÏT BSSBVYBU .BTTB QVT BCTPMVUBNFOU VO FYDÏT "M QFV EF MB MMFUSB %VV NPMUFT NÏT UBSHFUFT RVF OP QBT DBSUFT 4ÓNQUPNFT E BTJTUÛMJB 1SVSJU RVF OP WF EF DBQ BOZ 4J DBVTB SFNPSEJNFOU OP ÏT QBT NFWB "SCVTU FOYBNQBU FO QFST QJDËDJB .FTRVJOFTB EF SFJ GSBOD .JUHFT EF DPUØ 3BUMMFT BSB EF OPDFT BSB EF DPSSFVT BSB OFHSFT &ODBSB BRVFMMB TBMBEB 5Ï VOB HFSNBOB RVF RVBO T FOm MB ÏT DMB WBEB B FMMB %JSFDDJØ B MB NBS &M OPCMF PSJHFO EF MB QMBUBGPSNB &TUBO QFOEFOUFT EFM RVF FT EJV

{5JFOFT EVEBT FO FM BNPS /FHPDJP Z TBMVE {&SFT TFOTJCMF

``-MÈNBNF .BZPSFT EF B×PT $PTUF MMBNBEB SFE m KB å .ØWJM å "1 $PSSFPT 4BCBEFMM #$/ /$4

' % #' # '% h ( ! $" # '

/>E

5"305 "3"/%"

;P Þ]XRP eXST]cT `dT ]^ ]TRTbXcP RPacPb ST cPa^c b×[^ cd UTRWP ST ]PRX\XT]c^ 5TRWPb R^]RaTcPb BX] VPQX]TcT % aTS UXYP $ aTS \^eX[

(*- d . '0 d /- %*

- $&$ d -,0 /$+*. . ) $ ) d ( "$ '$./

)03*5;0/5"-4 &TGPSÎ NFDËOJD QFS USPCBS QFUSPMJ B M FTUØNBD "M DBQ EF QPD .ÏT FTRVFSQB RVF VOB DBCSB J EF 4BSEFOZB B TPCSF 5PU J NBM DPMBU DPOTUB EF WVJU FMFNFOUT /PV CVJEB "NC VO NÓOJN E BSHÞDJB FT GB CFO QPDB DPTB -B CFO TBMBEB "SCVTU TPUB M FNCBU EFM YBMPD 1FJY DBQBÎ EF GFS VO YJTDMF FO WFVSF FM SBTDMFU 'BESJOT B QVOU EF EFJYBS EF TFS OF .BM NBM 4FNQSF EJOT FM MMJU ²T B /FTUPSJ DPN B M FTDPMB M FTDPMË %FJYP EF NBOFSB RVF BQBSFJY FM GJOBM EF MB USBHÒEJB HSFHB %FTHBTU QFS GPSÎB FMFNFOUBM 5SFVSF FM DBQ QFS PCTFSWBS FMT SFTJEVT &TUSBOZB GPSNB EF UJTJ RVF NBMNFU RVBMTFWPM UJTJ #BOEB TPOPSB EF MB HSJQ 'ÏV FOUSBS FNQFOZFOU QFS M FTRVFOB &M DBQDJSØ EFM EJU 1BDUFT FTUBCMFSUT FOUSF FMT EJUT J MFT DPSEFT /BWFHVFV B QFT J DPOUSBDPSSFOU 7PDBM EFM NJH 4ØO DPTFT EFMT MBJDT 4ÓNQUP NFT E VSUJDËSJB -B UFNQFSBUVSB JEFBM TFHPOT FO 3PESÓHVF[ 1JDØ /P ÏT QBT NFOZT RVF VO TBDTFJH JOWPMVOUBSJ *OUSPTQFDDJØ EFM DBEËWFS /P ÏT HBJSF BCTUFNJ QFSÛ BMNFOZT GSFOB

727 PRWRU

616 OQVQT

YHK,FOHV FLUFXODFLÓ QRYHWDWV FRQFHVVLRQDULV

/JTTBO /7

.PUPS t /JTTBO QSFTFOUB MB TFWB OPWB GVSHPOFUB /7 &TQBJPTB DPOGPSUBCMF J WFSTËUJM &M WFIJDMF DPNQBDUF /JTTBO /7 BQPSUB NJMMPSFT FO FTQBJ DPOGPSU EJOUSF EFM TFHNFOU EF MFT GVSHPOFUFT QFUJUFT " NÏT EFT UBDB QFS TFS NPMU WFSTËUJM KB RVF MB WFSTJØ DPNFSDJBM ÏT OPNÏT VOB EF MFT USFT WBSJBOUT RVF FT WFOESBO B OJWFMM HMPCBM "M DPTUBU E BRVFTUB WFSTJØ FT DPNFSDJBMJU[BSË VOB WBSJBOU $PNCJ J M BOZ T JOUSPEVJSË VOB DPOGPSUBCMF WFSTJØ GBNJMJBS

MB NJMMPS FO MB TFWB DBUFHPSJB QPEFOU BMMPUKBS FO FM TFV DPN QBSUJNFOU EF DËSSFHB m OT B EPT QBMFUT FVSPQFVT - Fm DJÒODJB J CBJYPT DPTUØT EF NBOUFOJNFOU WÏOFO EPOBUT QFS M FMFDDJØ EF QSPQVMTPSFT &M QSJ NFS E FMMT ÏT VO BUNPTGÒSJD EF HBTPMJOB J DC - BMUSB PQ DJØ J MB NÏT JOUFSFTTBOU ÏT VO UVSCPEJÏTFM E$J EF DC EF QPUÒODJB "NCEØT USBOTNFUFO MB TFWB GPSÎB B MFT SPEFT EBWBOUF SFT NJUKBOÎBOU VOB DBJYB NBOVBM EF DJOD SFMBDJPOT

FYDMVTJWB QFS B QBTTBUHFST -B OPWB GVSHPOFUB B NÏT FT GBCSJ DBSË B #BSDFMPOB %FTUJOBEB B PGFSJS VOB FMFWBEB SFMBDJØ RVBMJUBU QSFV VOB BM UB QSBDUJDJUBU J VO CBJY DPTU EF NBOUFOJNFOU -B /7 IBVSË E PCSJS TF QBT FO VO TFHNFOU PO FMT QSFVT J MB GVODJPOBMJUBU EPNJ OFO MFT EFDJTJPOT EF DPNQSB 2VJOT BSHVNFOUT UÏ MB /7 QFS B HVBOZBS TF VO CVJU FM NFS DBU 1FS DPNFOÎBS VO BMU DPN QPOFOU QSËDUJD BNC NFUSFT DÞCJDT EF WPMVN EF DËSSFHB ÏT

3&1"3"$*»/ (&/&3"- %&- "650.»7*-

1MBODIB t 1JOUVSB t 4FDBEP BM IPSOP t .FDÈOJDB t &MFDUSJDJEBE 130.0$*»/ 050º0 */7*&3/0

-F PGSFDFNPT QPS VO DBNCJP EF BDFJUF Z G JMUSPT VOB SFWJTJØO (3 "56*5" EF OJWFMFT BNPSUJHVBEPSFT Z VOB SFWJTJØO EF QSF *57

*OEÞTUSJB #"%"-0/"

QBH JOEE

727 %DGDORQD

XXX 7&/5"%&/&6."5*$04 DPN

&M QBTTBU EJKPVT ÏT WB JOBV HVSBS FM OPV DPODFTTJPOB SJ /JTTBO 3PNBVUP TJUVBU BM QPMÓHPO -FT (VJYFSFT EF MB OPTUSB DJVUBU "RVFTUFT OPWFT JOTUBMtMBDJPOT JODMPVFO VO FTQBJ E FYQPTJDJØ EF NUT FTQBJ RVF QSÛYJ NBNFOU FTUBSË DPNQMFNFOUBU BNC VO TFSWFJ EF QPTUWFOUB

727 PRWRU

&M DPODFTTJPOBSJ /JTTBO 3PNBVUP JOBVHVSB OPWFT JOTUBMtMBDJPOT B #BEBMPOB

&M HSVQ 3PNBVUP ÏT VO HSVQ NPMU DPOTPMJEBU BNC NÏT EF BOZT E FYQFSJÒODJB FO FM TFDUPS "DUVBMNFOU DPNQUB BNC DPODFTTJPOBSJT B #BS DFMPOB DJVUBU BM .BSFTNF J VO BMUSF B -B 4FMWB B UPUT FMMT T IB EF TVNBS FM OPV DPO DFTTJPOBSJ PCFSU B MB OPTUSB DJVUBU

NBOUFOJNFOU J SFQBSBDJØ QFS B WFIJDMFT /JTTBO &M QSPKFDUF EF 3PNBVUP FTUË JOUFHSBU FO FM QMB FTUSBUÒHJD E FYQBOTJØ B MB QFOÓOTVMB EF MB NBSDB /JTTBO RVF QSFUÏO QPTJDJPOBS TF FOUSF MFT USFT QSJNFSFT NBSRVFT FO RVB MJUBU SFOEJCJMJUBU J FWPMVDJØ B &TQBOZB

%0/&. -" 70-5" "-4 13&64 5BMMFST 3FDBOWJT 7FOEFT J &YQPTJDJØ 1SFTJEFOU $PNQBOZT #"%"-0/"

5FM 'BY

NPUPTCBEBMPOB!UFSSB FT

"-26*-&3 %& '63(0/&5"4 : 563*4.04

0'*$*/" &/ #"%"-0/" $ &-&$53»/*$" O 1PM *OE -FT (VJYFSFT 5&- XXX HSVQPNBSUIF DPN 727 %DGDORQD

QBH JOEE

LPPRELOLÁULD

KOOQDKNKÀTKC

/D PLOORU VHOHFFLÓ LPPRELOLÁULD GHO %DUFHORQÈV 1RUG

&M QSFV EF M IBCJUBUHF CBJYB VO B $BUBMVOZB FO FM UFSDFS USJNFTUSF EF M BOZ JNNPCJMJBSJB t &M QSFV EF M IBCJUBUHF DPOUJOVB CBJYBOU B $BUBMVOZB "RVÓ BRVFTUB UFOEÒODJB B MB CBJYB T IB BDDFOUVBU VOB NJDB NÏT KB RVF FO FM UFSDFS USJNFTUSF EFM MB DBJHVEB EF QSFVT EFMT QJTPT IB FTUBU EFM 4FHPOT EBEFT EFM .JOJTUFSJ E )BCJUBUHF B M &TUBU FMT QSFVT IBO DBJHVU VO SFTQFDUF EF M BOZ QBTTBU EF NBOFSB RVF T IBO TJUVBU FO FMT FVSPT QFS NFUSF RVBESBU " N C B R V F T U E F T D F O T M IBCJUBUHF MMJVSF B $BUBMVOZB FODBEFOB VO BOZ EF DBJHV EFT JOUFSBOVBMT EF QSFVT J

USJNFTUSF %FTQSÏT EF EPT USJNFTUSFT DPOTFDVUJVT EF CBJYBEFT FM NFUSF RVBESBU E IBCJUBUHF QSPUFHJU TF TJUVB FO FVSPT ²T FM DBT EF 5BSSBHPOB PO EFTQSÏT E VO BOZ EF DBJHV EFT EF KVMJPM B TFUFNCSF IBO SFQVOUBU VO %FTUBDB UBNCÏ RVF EFMT NVOJDJQJT NÏT DBST EF M &TUBU BNC NÏT EF IBCJ FT NBOUÏ FO FMT OJWFMMT NÏT UBOUT TØO DBUBMBOT 4BOU $V CBJYPT EFT EF M BOZ HBU #BSDFMPOB J &TQMVHVFT EF 5PU J MB UFOEÒODJB HFOFSBM -MPCSFHBU B MB CBJYBEB EF QSFVT FO &O UPUT USFT DBTPT FM QSFV FM DBT EF M IBCJUBUHF QSPUF QFS NFUSF RVBESBU TVQFSB FMT HJU BRVFTU T IB JODSFNFOUBU FVSPT MMVOZ EFMT VO SFTQFDUF BM TFHPO EF NJUKBOB

$ 'SBODFTD -BZSFU O #"%"-0/"

5

*..0#*-*®3*" 1*404 &/ 7&/%"

"WEB .BSUÓ 1VKPM N IBCJUBDJPOT CBOZ %F -VYF 3FGPSNBU 1MBÎB &SOFTU -MVDI N IBCJUBDJPOT CBOZ 4FNJ OPV #BMDØ EF N 1MBÎB &SOFTU -MVDI N IBCJUBDJPOT CBOZT 4FNJ OPV CBMDPOT %F MVYF -BUSJMMB N IBCJUBDJPOT CBOZT 1JT SFGPSNBU 0DBTJØ &OSJD #PSSËT N IBCJUBDJPOT CBOZT 1JT TFNJ OPV $BOUPOFS -B 1MBOB 0DBTJØ N IBCJUBDJPOT CBOZ /FDFTTJUB SFGPSNFT $ 4BOU +BVNF N N EF QBUJ IBCJUBDJPOT CBOZ 4FNJ SFGPSNBEB $ *HOBTJ *HMÏTJFT N IBCJUBDJPOT CBOZ 1FS SFGPSNBS $ $PORVFTUB N IBCJUBDJPOT CBOZ 5PUBMNFOU SFGPSNBU $ (VJGSÏ 0DBTJØ N IBCJUBDJPOT CBOZT .JMMPS RVF OPV $ (VJGSÏ N IBCJUBDJPOT CBOZT %F -VYF 5PU EF EJTTFOZ 1JTPT $BO .FSDBEFS N N EF UFSSBTTB IBCJUBDJPOT CBOZT 5PUBMNFOU SFGPSNBU (SBOT 7JTUFT $ .BS N IBCJUBDJPOT CBOZ 4PCSFËUJD $ .BS N N EF UFSSBTTB IBCJUBDJPOT CBOZT 1JT ÞOJD BM DBSSFS EFM .BS "MDBMEF 9JGSÏ N CBMDPOT IBCJUBDJPOT CBOZT 1JT JONJMMPSBCMF BNC QL J USBTUFS JODMÛT 3VCJØ J 0ST N N EF UFSSBTTB IBCJUBDJPOT CBOZT 1JT TFNJ OPV BNC UFSSBTTB FTQFDUBDVMBS

å å å å å å å å å å å å å DPOTVMUBS å å

$"4&4 &/ 7&/%" $ .BHBU[FN N N EF QBUJ EF UFSSBTTB IBCJUBDJPOT CBOZT $BTB EF EJTTFOZ QSFNJBEB $ .JRVFM 4FSWFU N N EF QBUJ IBCJUBDJPOT CBOZT $BTB EF MVYF BNC CPEFHB $ $PORVFTUB N N EF CBEJV IBCJUBDJPOT CBOZT $BTB EF MVYF OPWB

å å å

1*404 * $"4&4 &/ --0(6&3 ®UJD 1SFTJEFOU $PNQBOZT N N EF UFSSBTTB IBCJUBDJPOT CBOZT $ *HOBTJ JHMÒTJFT N IBCJUBDJPOT CBOZ "OTFMN $MBWÏ N IBCJUBDJPOT CBOZT $ 4BOUB .BSJB N IBCJUBDJPOT CBOZT $ $PSUT N IBCJUBDJPOT CBOZT $ #BMEPNFSP 4PMË N #BOZ J DVJOB SFGPSNBUT IBCJUBDJPOT CBOZ

å NFT å NFT å NFT å NFT å NFT å NFT

-0$"-4 %FTQBUYPT $ 'SBODFTD -BZSFU %FT EF N 0GJDJOB $ *HOBTJ *HMÒTJFT N *EFBM PGJDJOB $ *OEÞTUJB $PORVFTUB N " D DBMFGBDDJØ *NQFDBCMF

å NFT å NFT å

505 &- 26& #6426&4 )0 530#"3®4 " 888 1"3&--"%" $"5

QBH JOEE

727 %DGDORQD

%*3&$5& $0/4536$503

3*&3" ."5".0304 N IBC CBOZ BTFP CBMDØ 5FSSBTTB N å NFT 4"/5 #36 N IBC CBOZT [ BKBSEJOBEB BNC QJTDJOB CBMDØ N 1L å NFT 1- &3/&45 --6$) EÞQMFY N IBC CBOZT UFSSBTTB N CBMDØ å NFT 13&4*%&/5 $0.1"/:4 N IBC CBOZT UFSSBTTB N CBMDØ å NFT

4 Á -5 * .

1*40

4

LPPRELOLÁULD

5*"/"

$ .BS OÞN

1*404 0#3" /07" ".# 5&33"$&4

%&41"5904 * -0$"-4 $0.&3$*"-4 %& --0(6&3 1&1 7&/563" %FTQBUY EF . #POB VCJDBDJØ å NFT 5&.1-& %FTQBUY EF N .ÈNQBSFT EJWJTPSJFT &YDFM MFOU FTUBU å NFT $ $"3.& -PDBM o NBHBU[FN EF N ;POB WJBOBOUT å NFT 4"/5 #36 -PDBM DPNFSDJBM EF N (SBO GBÎBOB B DUSB / ** å NFT

8QD ILUPD GH SUHVWLJL XXX m ORVFTCFMMBWJTUB DPN %6&4 Á-5*.&4 1-"/5&4 #"*9&4 &/ 7&/%"

6OB EF N EF KBSEÓ J MhBMUSF EF N EF KBSEÓ IBCJUBDJPOT CBOZT BTFP QMBDFT EF QËSRVJOH J USBTUFS DBMFGBDDJØ J BJSF DPOEJDJPOBU

5FM

"WJOHVEB .BSUÓ 1VKPM OÞN S B

5FMT

+//1$+.+À4+#

&MT NJMMPST JNNPCMFT

+BVNF .POUTFSSBU J 7JWFT (FTUPS "ENJOJTUSBUJV $PM MFHJBU "TTFTTPS 'JTDBM "HFOU EF MB 1SPQJFUBU *NNPCJMJËSJB "ENJOJTUSBEPS EF 'JORVFT

"44&4403&. -&4 01&3"$*0/4 *..0#*-*®3*&4 &/ 5054 &-4 "41&$5&4 '*4$"-

-&(" '*/"/$&3

"%.*/*453"5*6

( "%.*/*453"$*0/4 ( "44&4403".&/5 ( J (&45*« *..0#*-*®3*"

( $0.13" ( 7&/%" ( --0(6&3 ( 53"41"4404

-0$"-4 &/ --0(6&3 ;0/" .&3$"5 503/&3 N QMBOUB CBJYB N EF TØUBO 1SFV B $POTVMUBS $ 4"-7"%03 &413*6 -MPSFEB N F ;0/" -" 1-"/" N TFNJTÛUBO WFOU B MhFYUFSJPS "DDÏT GVSHPOFUFT F $ '3"/$&4$ %& 1"6-" KUP $ .BS QMBOUB N N N .PMUB MMVNJOPTJUBU $ "3/Á4 40-&%"% FOUSFTPM DPNFSDJBM N NPMUB MMVNJOPTJUBU FO QFSG FTUBU F $ 1307*%µ/$*" N QMBOUB CBJYB N TÛUBO F 1"3,*/( --0(6&3 "WEB .PSFSB $PUYF .JUKË F -0$"- --0(6&3 ;0/" .&3$"5 503/&3 N FO QMBOUB CBJYB N EF TÛUBO F 0'*$*/" --0(6&3 N QMBOUB BTDFOTPS BM DPTUBU BVUPQJTUB " NJO EFM DFOUSF FO QFSGFDUF FTUBU 1SFDJP UPUBM F 0'*$*/&4 --0(6&3 "WEB #VGBMË FOUSFTPM N WBSJT EFTQBUYPT " " BTD F $ ®/(&- (6*.&3® N FOUSFTPM F 3".#-" 4"/5 +0"/ CBJYPT N EF QBUJ QJT N *EFBM BCBJY NBHBU[FN P UBMMFS J B EBMU PGJDJOFT 'JODB TFOTF WFÕOT F 3#-" 45 +0"/ (6*9&3&4 N [POB EF QBT F 4*453&--4 N F $ (*30/" #6'"-® N NBHBU[FN UBMMFS F $ (*30/" N PGJDJOB NBHBU[FN [POB DBSSFHB EFTDBSSFHB F $ 4"/5 .*26&- $&/53& N 4PSUJEB GVNT F %&41"59 ;0/" --03&%" N " " QFSGFDUF FTUBUBU F

$ (0/(03" 4"/5 $3*45 N UBMMFS NBHBU[FN FUD F $ 4&-7" N QMBOUB CBJYB F

1*404 * $"4&4 &/ --0(6&3 $ 1037&/*3 IBC CBMDØ HBMFSÓB NPMUB DMBSFUBU TFOTF BTDFOTPS F 1- -" 1-"/" IBC CBMDØ UPU FYUFSJPS SU TFOTF BTD F $ 13*. IBC TFOTF BTDFOTPS F 1*4 &/ --0(6&3 1MBÎB MB 1MBOB IBC CBOZ UTTB T BTD SFGPSNBU F 1*4 &/ --0(6&3 ;POB #VGBMB IBCJUBDJPOT DBMFGBDDJØ UPU JODMØT F 1*4 &/ --0(6&3 $ 4&-7" 4BOU $SJTU IBC EPCMFT CBMDØ BTDFOTPS F

1"3,*/(4 * 53"45&34 &/ --0(6&3 1"3,*/(4 * 53"45&34 &/ --0(6&3 1-"±" -" 1-"/" 1®326*/( 53"45&3 01$*0/"- F

/"64 &/ --0(6&3 /"64 */%6453*"-4 $0.&3$*"-4 10-¶(»/ #0/"7*45" B QBSUJS EF N FO EVFT QMBOUFT F /"6 1PM -FT (VJYFSFT N FRVJQBEB BNC JOTUBMBDJPOT F

7&/%" -0$"- 7*7&/%" $ */%Á453*" O N TPSUJEB GVNT 3FG F

*14#4+1 C *14#5 C *14#5 2NCÁC $CTÎ FG /CNF´ P 6GNU #RCTVCV $#&#.10# $CTEGNQPC (#: | YYY IGUVQTKCOQPVUGTTCV EQO

727 %DGDORQD

QBH JOEE

LPPRELOLÁULD

"ENJOJTUSBEPST "TTPDJBUT "HFOU EF MB 1SPQJFUBU *NNPCJMJËSJB "1* 6OL LLOGAR EL SEU PIS &ACI HO SENSE POR ,I GARANTIM EL COBRAMENT DEL LLOGUER CADA MES -ÌXIMA ElCACIA I SERIETAT 4ENIM UNA AMPLIA BORSA DE LLOGATERS 0ROFESSIONALS DES DE

7&/%"

$"4" $&/53& 1# 1*4 N SFCFEPS NFOKBEPS TBMB DVJOB SFG QBUJ QFUJU MBWBCP IBC #BOZ DPNQMFU OPV UFSSBTTB CBMDP J BMUFMM å 5&33&/: 1&3 &%*'*$"3 7"3*4 63# ."4 3". N å ."4 3". ."(/*'*$" 5033& 7*45&4 &9$&-t-&/54 1 # NFOKBEPS B OJWFMMT TBMB E FTUBS DVJOB N EFTQBUY MBWBCP HSBO UFSSBTTB 1JT IBC CBOZT DPNQMFUT UFSSBTTB (BSBUHF J CPEFHB å -0$"- PGJD N +PBO 1FJSØ JEFBM QFS RVBMTFWPM OFHPDJ å OFH %6&4 1-"$&4 %& ("3"5(& $ 3JFSB .BUBNPSPT å

--0(6&3

1*404

1*4 "- $&/53& QJT EF N NFOKBEPS DVJOB SFGPSNBEB CBOZT IBCJUBDJPOT BNC UFSSBTTB OP FT QFSNFUFO BOJNBMT å 1*4 "- $&/53& QJT BM D 4BOU #SV IBC NFOK HSBO D PGG U[B å %&41"59 1SFTJEFOU $PNQBOZT UPU SFGPSNBU N BQSPY $POTVMUBS %&41"59 DÒOUSJD BM DPTUBU EF M "KVOUBNFOU FTUBU FYDFMtMFOU JEFBM QFS RVBMTFWPM UJQVT EF OFHPDJ N BQSPY $POTVMUBS

-0$"-0$"- $ 4BOU (POÎBM N JEFBM NBHBU[FN å -0$"- "SUJHVFT D #BMNFT N¤ 3&'03."5 QPSUFT å -0$"- J 0'*$*/&4 +PBO 1FJSØ EJTQPTB EF HVBM B DPOWFOJS -0$"- $BSSFS "MGPOT 9*** N SFGPSNBU CBOZT JEFBM QFS CBOD P DPOTVMUPSJT å

1®326*/(4 1-"±" ("3"5(& $ 3JFSB .BUBNPSPT å 1-"±" ("3"5(& $ 1POFOU å

7JB "VHVTUB -MFUSB # S (BMFSJFT 7JDUÛSJB 5FM 'BY t #BEBMPOB

$ -B 1BV 5JBOB

5FM

#BEBMPOB t %S 3PCFSU t 0CSB /PWB

t 1JTPT J IBCJUBDJPOT t CBOZT UJQVT TVJUUF

t " " #PNCB EF DBMPS QFS DPOEVDUFT

t $BMFGBDDJØ B HBT t $VJOFT UPUBMNFOU FRVJQBEFT NPCMFT EF DJSFSFS

J FMFDUSPEPNÒTUJDT 4*&.&/4

t $BSQJOUFSJB FYUFSJPS 17$ QFSTJBOFT BVUPNËUJRVFT t .FOKBEPS 4VQFS (3"%)&3.µ5*$ t 5PUBMNFOU FYUFSJPS J BTTPMFMMBU t "DBCBUT EF RVBMJUBU t (SJGFSJB (SPIF 5FSNPFTUËUJDB t 0QDJØ QBSLJOH J USBTUFS

%FTEF å

5SVDBS QFS DPODFSUBS WJTJUB 5FM

QBH JOEE

727 %DGDORQD

1. .')+#6

$*(17( '( /$ 3523,('$' ,102%,/,$5,$

&2/(* 1

) , 1 4 8 ( 6

%$ '$ /2 1$

9(1'(6 $9' %8)$/­ P KDELWDFLRQV PHQMDGRU JUDQ FXLQD QRYD EDQ\ FRPSOHW FDOHIDFFLy ½ 3,6 & 02/Ì '( /$ 7255( SLV P KDELWDFLRQV EDQ\V PHQMDGRU JUDQ FXLQD HTXLSDGD FDOHIDFFLy 7RW H[WHULRU ½ 3,6 5 58%,$/ &(175( REUD QRYD P KDE VDOD PHQMDGRU FXLQD EDQ\ DLUH FRQGLFLRQDW FDOHI WHUUDVVD P ½ 3,6 $ /$ 3/$1$ P pV EDOFy JUDQ VDOD PHQMDGRU FXLQD JUDQ UHIRUPDGD KDE WRWHV GREOHV EDQ\V FRPSOHWV L DVHR WRW H[WHULRU SODoD GH JDUDWJH L WUDVWHU ½ 3,6 7,$1$ &(175( 9 GH OD 0HUFH QRX DQ\V P KDE EDQ\V VDOR PHQMDGRU L FXLQD JUDQV JDUDWJHV ]RQD FRP DPE SLVFLQD ½ 3,6 $9'$ 025(5$ P KDE EDQ\ F VDOD PHQMDGRU FXLQD EDOFRQV WRW H[WHULRU PROW GH VRO YLVWD DO PDU ½ 3,6 & ,1'(3(1'(1&,$ P KDE PHQMDGRU JUDQ FXLQD EDQ\ ERQ HVWDW ½ 3,6 3 &203$1<6 &(175( P KDE E FRPSOHW FXLQD RIILFH VDIDUHLJ UHIRUPDW H[WHULRU ½ 3,6 3 &203$1<6 &(175( P KDE FXLQD UHIRUPDGD EDQ\ F H[WHULRU EDOFy ½ 3,6 9,$ $8*867$ &(175( P KDE VDOy PHQMDGRU EDQ\ DVHR PROW OOXPLQyV YLVWHV D PDU ½ 'Ó3/(; 0$15(6­ & 085,//2 P KDE JUDQV VDOD PHMDGRU FXLQD EDQ\ FRPSOHW L WHUUDVVD SODQWD JROIHV P GLDIDQV L VRODULXP GH P ILQFD GH YHwQV ½ 'Ó3/(; 0 38-2/ &(175( P P WHUUDVVD KDE VXLWH DPE YHVWLGRU L EDQ\V DPE MDFX]]L FXLQD RIILFH VDOy GH P JROIHV DPE [HPHQHLD EDQ\V FRPSOHWV ]RQD FRP DPE SLVFLQD SDUTXLQJ ½ ),1&$ (1 9(1'$ & 085,//2 0$15(6­ HV FRPSRQ GH VRWHUUDQL GH P SDWL GH P SODQWD EDL[D DPE KDE PHQMDGRU FXLQD EDQ\ L JDUDWJH 3ULPHU SLV DPE KDE EDQ\ PHQMDGRU FXLQD L WHUUDVVD JROIHV L WHUUDW 7RW HQ ERQ HVWDW 9HQGD WRWD OD ILQFD ½ 7255( 0$6 5$0 PWV FRQVWUXwWV SDUFHO OD PWV QRYD GRUPLWRULV VXLWWHV VDOy PHQMDGRU FXLQD JUDQ VDOD JDUDWJH MRFV ERGHJD IDQWjVWLTXHV YLVWHV ½ 7255( 0$6 5$0 P YLYHQGD P SODQWHV VDOy PHQM DPE [HPHQHLD EDQ\ KDE KDE DPE VXLWWH JROIHV GH P ½ 7255( 0$6 5$0 VXS SDUFHO OD P P HGLILFDWV WH YLYHQGHV LQGHS DPSOLHV JDUDWJH ERGHJD HQ SHUI HVWDW FDOHI ERQHV YLVWHV ½ &$6$ $ 7,$1$ PROW QRYD GH GLVVHQ\ JDUDWJH SODFHV VDIDUHLJ VDOD PHQMDGRU FXLQD JUDQ KDELWDFLRQV VXLWWH EDQ\V FRPSOHWV DVHR HVWXGL VRODULXP MDUGt FDOHIDFFLy L DLUH FRQGLFLRQDW ½ &$6$ 5 &$0Ì ' $/(//$ P SDWL GRUPLWRULV VDORQV EDQ\V D D FDOHIDFFLy JROIHV YLVWHV DO PDU HVSHFWDFXODU RSRUWXQLWDW ½ &$6$ & -+21 /(121 %8)$/$ P SDWL P VXLWH DPE EDQ\ KDE EDQ\ F DVHR HVWXGLR ERGHJD L JDUDWJH ½

/ /2 * 8 ( 5 6 3,6 ,*/(6,$6 &(175( KDE VDOy PHQMDGRU JUDQ EDQ\ FRPSOHW FXLQD HTXLSDGD WRWV HOHFWU DPREODW ½ 0(6 3,6 5 0$7$02526 &(175( 2EUD QRYD KDE EDQ\ FRPSOHW FXLQD HTXLSDGD PHQMDGRU H[WHULRU $ $ FDOHIDFFLy ½ 0(6 3,6 '5 52%(57 %8)$/­ KDE PHQMDGRU FXLQD EDQ\ FRPSOHW EDOFy VHPLDPREODW ½ 0(6 3,6 7(50(6 520$1(6 &(175( KDE JUDQ PHQMDGRU FXLQD L EDQ\ UHIRUPDWV VDIDUHLJ PROW GH VRO ½ 0(6 3,6 3 &203$1<6 P KDE VDOD PHQMDGRU EDQ\V FXLQD FDOHIDFFLy SDUTXHW SHUIHFWH HVWDW ERQHV YLVWHV WUDVWHU ½ 0(6 3,6 & 0$5 P UHIRUPDW VHQVH YHwQV KDE JUDQV PHQMDGRU FXLQD H[WHULRU WUDVWHU ½ 0(6 3,6 & 129$ &$1d2 %8)$/­ 3$57 %$,;$ P KDE EDQ\V FXLQD JDOHUtD PHQMDGRU H[WHULRU PROW GH VRO ½ 0(6 3,6 & /$,(7­1,$ &(175( KDELWDFLRQV GREOHV VDOD PHQMDGRU EDQ\V FXLQD EDOFy 7RW H[WHULRU ½ 0(6 3,6 & /(6 &2576 KDE VDOD PHQMDGRU JUDQ EDQ\ FRPSOHW FXLQD HTXLSDGD FDOHI SHUIHFWH HVWDW ½ 0(6 3,6 & 67$ 0$5,$ 5$0%/$ KDE EDQ\V FRPSOHWV VDOD PHQMDGRU JUDQ FXLQD JUDQ PREODW SHUIHFWH HVWDW ½ 0(6 3,6 & 6$1 &$5/(6 &(175( DSDUWDPHQW QRX KDE GREOH EDQ\ FRPSOHW VDOD PHQMDGRU JUDQ DPE FXLQD DPHULFDQD WUDVWHU ½ 0(6 3,6 & 085,//2 0$15(6­ KDE JUDQV EDQ\ FXLQD PHQMDGRU WHUUDVVD WRW H[WHULRU 0REODW ½ 0(6 3,6 & 128 &$6(6 QRX KDE GREOHV EDQ\V PHQMDGRU FXLQD HVWHULRU FDOHIDFFLy SHUIHFWH HVWDW ½ 0(6 3,6 & *$/,&,$ 025(5$ ­WLF KDE EDQ\V VDOD PHQMDGRU FXLQD FDOHIDFFLy WHUUDVVD P DPE RIILFH S SDUTXLQJ PREODW H[WHULRU ½ 0(6 3,6 3529,'(1&,$ 3 9(1785$ KDE JUDQV VDOD PHQMDGRU FXLQD EDQ\ F FDOHIDFLy ½ 0(6 (678',6 , 3,626 KDE HQ REUD QRYD SHU D HVWUHQDU FRVWDW SDYHOOy 3HQ\D '(6 '( ½ 0(6 &$6$ & 02176(55$7 KDE EDQ\ SDWL SHUIHFWH ½ 0(6 7255( 0$6 5$0 PROW Ep VLWXDGD KDE GREOHV VXLWWHV HVWXGL ERGHJD VDOD PHQMDGRU QLYHOOV P FXLQD RIILFH JDUDWJH FRW[HV HQ XQD SDUFHO OD GH P SLVFLQD ½ 0(6 2),&,1(6 7255( *8,;(5(6 P SHU HVWUHQDU IDQWiVWLTXHV YLVWHV GHPDQHX LQIRUP 326,%,/,7$7 '( ',9,6,216 2),&,1(6 $/)21;2 ;,,, 3 9(1785$ P DPE GLYLVLRQV ½ 0(6 2),&,1$ $9'$ 3 &203$1<6 &(175( P GHVSDW[RV JUDQV UHFHSFLy L VHUYHLV 7RW H[WHULRU ½ 0(6 /2&$/ & 6$1 0$5&26 P FRPHUFLDO ½ 0(6 /2&$/ & /$75,//$ FRPHUFLDO P TXDOVHYRO DFWLYLWDW ½ 0(6 /2&$/ ) 0$&,$ 72&$17 ,//$ )5$'(5$ 6XS SODQWD P P DOWHOO L P SDWL DFFHV YHKLFOHV ]RQD PROW FRPHUFLDO ½ 0(6 /2&$/ 0(675( 1,&2/$8 P SHU RILFLQHV R FRPHUo ½ 0(6 /2&$/ 3 , &$6$/6 P DPE SODQWHV PROW OOXPLQRVHV SHU TXDOVHYRO DFWLYLWDW FRPHUFLDO R UHVWDXUDFLy VHQVH YHwQV ½ 0(6 /2&$/ & *,521$ P GLjIDQ VHQVH FROXPQHV HQWUDGD IXUJRQHWD OOXP L DLJXD ½ 0(6 /2&$/ & &267$ &267$7 9,$ $8*867$ FRPHUFLDO P SHUIHFWH HVWDW SHU D RILFLQHV SODQWD EDL[D DFFpV GLUHFWH D FDUUHU ½ 0(6 /2&$/ & 3529,'Ë1&,$ FRPHUFLDO P ½ 0(6 /2&$/ ,1'8675,$/ & 6$1 9,d(16 025(5$ P GLjIDQ DPE VHUYHLV HQWUDGD FDPLRQV ½ 0(6 /2&$/ &20(5&,$/ 6$17 %58 P TXDOVHYRO DFWLYLWDW FRPHUFLDO DPE VHUYHLV ½ 0(6 %$5 5(67$85$17 (1 75$63­6 PROW FqQWULF ]RQD DMXQWDPHQW QRX OORJXHU ½ 0(6

7HOqIRQ CBEBMPOB /PV EFGJOJUJV JOEE

& /DLHWDQLD %$'$/21$

LPPRELOLÁULD

' */26&4 3 0+"4 "44&4403".&/5 J (&45*» *..0#*-*®3*"

% #NHQPUQ :++ DCLQU $#&#.10#

(CZ .1%#.'5 '0 #.37+.'4 ; 8'06# % %#.&'4¦0 &' .# $#4%# O CUGQ KFGCN VCNNNGT EQPHGEEKÎP IKOPCUKQ EQPUWNVC ŝ %'0641 % .NGÎ O Qſ EKPC CUGQ OW[ DWGP GUVCFQ ŝ )#5615 /14'4# #8 24#6 &' .# 4+$# O CUGQ +FGCN Qſ EKPC RCRGNGTKC LVQ IWCTFGTKC GVE ŝ 5+564'..5 O UÎVCPQ RCVKQ KFGCN RGSWGÌQ VCNNGT UGTXKEKQU GVE ŝ %'0641 E %QNÎP O CUGQ CRVQ RCTC EWCNSWKGT EQOGTEKQ Qſ EKPCU GVE 0')1%+#$.' ŝ 2'2 8'0674# ,61 5#.'5+#015 O UCNKFC FG JWOQU KFGCN TGUVCWTCEKÎ Qſ E CNOCEÃP ŝ 2#4-+0) /161 % .CKGVCPC CNSWKNGT ŝ % %+4%708#.#%+¦0 O KFGCN CNOCEÃP CUGQ 1214670+&#&

8'06# &' 2+515 ; %#5#5 %'0641 #X 2TGUKFGPV %QORCP[U O JCD EQOGFQT DCNEÎP EQEKPC DCÌQ ECNGH CUE DWGP GUVCFQ 0')1%+#$.'

2'2 8'0674# O JCD EQOGFQT EQEKPC DCÌQ ECNGH RCTMGV 4GEKÃP TGHQTOCFQ &+)01 &' 8'4 561 %4+561 O JCD EQOGFQT EQEKPC DCÌQ TGHQTOCFQ 1('46¦0 % %1037+56# O JCD EQOGFQT EQEKPC DCÌQ DCÌGTC TGFQPFC RCTMGV CNWO C C ECNGH 2'4('%61 '56#&1 0')1%+#$.' /106)#6 &­2.': HTGPVG CN OCT O JCD VGTTC\C ſ PEC CÌQU RGTHGEVQ GUVCFQ FKIPQ FG XGT %1057.6#4 %10)4'51 (TGPVG OGTECFQ O JCD EQO DCNEÎP EQE DCÌQ QTKIGP ŝ #46+)#5 % 4#(#'. %#5#018#5 (KPEC O Z HQPFQ 5ÎVCPQ NQECN XKXKGPFC V\C $WGP GUVCFQ %1057.6#4 24'%+1 ..'(+ O JCD EQOGFQT EQEKPC DCÌQ CNVWTC ŝ ,61 27'461 07'81 O VGTTC\C O RCTMKPI VTCUVGTQ RGTHGEVQ GUVCFQ CECDCFQU CNVQ UVCPFKPI %1057.6#4 24'%+1 %10)4'51 6144' O JCD EQOGFQT DCNEÎP EQEKPC DCÌQ CUEGPUQT QTÈIGP DWGP GUVCFQ ŝ /106+)#. O JCD EQOGFQT EQEKPC [ DCÌQ PWGXQU DCNEÎP DQPKVCU XKUVCU ŝ

#.37+.'4 %'0641 '.8+4# 2#4- O JCD EQOGFQT DCNEÎP EQE DCÌQ ECNGH CUE 6QFQ GZV /W[ DWGP GUVCFQ ŝ /14'4# O JCD EQOGFQT DCNEÎP EQEKPC DCÌQ CUEGPUQT OW[ DWGP GUVCFQ ŝ %#¤#&¦ O JCD EQOGFQT DCNEÎP EQEKPC DCÌQ CUGQ CUEGPUQT RGTHGEVQ GUVCFQ ŝ %'0641 ,61 #;706#/+'061 JCD EQOGFQT EQEKPC COGTKECPC GNGEVTQFQOÃUVKEQU $CÌQ EQORNGVQ ŝ #.(1051 :++ %1037+56# COWGDNCFQ JCD EQOGFQT DCNEÎP EQEKPC DCÌQ CUGQ CUEGPUQT ŝ /106)#6 .#5 %156'4#5 RGSWGÌQ GUVWFKQ FG JCD EQOGFQT EQEKPC CUGQ ŝ %'0641 +)0#5+ &' .1+1.# JCD EQOGFQT EQEKPC DCÌQ ŝ % ..'¦ RNC\C FG RCTMKPI EQEJG ITCPFG ŝ

53".*5"$*»/ )*105&$"4 5&33&/04 "#0("%0 5"4"$*0/&4 1-";"4 %& 1"3,*/( "%.*/*453"$*0/&4 $0/4Á-5&/04

hZ' s E Z >KE ͬ ƚƌĂ͘ ŶƟ ŐƵĂ sĂůĞŶĐŝĂ Ͳ ŶĚƌĞƐ ^ĞŐŽǀŝĂ &ĂŶƚĄƐƟ ĐŽ ƉŝƐŽ ĚĞ ϰ ŚĂďŝƚĂĐŝŽŶĞƐ͕ ĐŽĐŝŶĂ ĞƋƵŝƉĂĚĂ͕ ďĂŹŽ ĐŽŵƉůĞͲ ƚŽ͕ ďĂůĐſŶ Ă ůĂ ĐĂůůĞ͕ ƚŽĚŽ ƌĞĨŽƌŵĂĚŽ͘ WĂƌĂ ĞŶƚƌĂƌ Ă ǀŝǀŝƌ͘ &ƌĞŶƚĞ ĨƵƚƵƌĂ ƉůĂnjĂ͘ DƵLJ ďŝĞŶ ĐŽŵƵŶŝĐĂĚŽ͘ KĐĂƐŝſŶ͊​͊ ŶƚĞƐ Ϯϳϱ͘ϬϬϬ Φ ,KZ ϮϬϵ͘ϬϬϬ Φ Ͳ hKd ϴϰϬ Φ ^ƌ͘ ŶƚŽŶŝŽ ϲϲϬ͘ϴϭϵ͘ϰϭϯ

QBH JOEE

727 %DGDORQD

'*/$" &/ 7&/%" ".# */26*-¶ ;POB 1&1 7&/563" 1MBOUB CBJYB QJTPT N KBSEÓ *ORVJMÓ BNC DPOUSBDUF JOEFm OJU 6MUJNB TVCSPHBDJØ 0QPSUVOJUBU EF GVUVS 1SFV &VSPT 8QD ILUPD GH SUHVWLJL XXX m ORVFTCFMMBWJTUB DPN

5FM

"WJOHVEB .BSUÓ 1VKPM OÞN S B

$0.6/*5"54 %& 1301*&5"3*4

5SPCB FM UFV JNNPCMF

LPPRELOLÁULD

+//1$+.+À4+#

"1"35".&/54 %61-&9 &/ 7&/%" N QMBOUB N QMBOUB IBC CBOZT FYUFSJPST QMBRVFT TPMBST ;POB $FOUSF /PVT QFS FTUSFOBS 0QPSUVOJUBU

$0.130.¶4 %& 26"-*5"5 $BQ QFSTPOB RVF OP TJHVJ BENJOJTUSBEPS EF GJORVFT DPMrMFHJBU QPSUBSË MB TFWB FTDBMB

$FOUFMMBT /PU "TTPDJBUT

*-* " 3*

"(&/ 5

30 1*& 1

"1*

0#

5 * . .

5"

$PMrMFHJBU #$/

"

$0-r-&(*"5 / #$/

'SBODFTD -BZSFU #"%"-0/"

$ (VJGSÏ #BEBMPOB 5FM

XXX QSPNPDBU FT

1*404 &/ --0(6&3

1®326*/(4 %& --0(6&3 " 1301 %& -" 1-"/" 1035 %& #"%"-0/" 0#3" /07" ®UJD EF N¤ BNC IBC CBOZT BTFP UFSSBTTFT EF J N¤ [POB DPNVOJU JODMPV QJT QL

USBTUFS å 1&1 7&/563" 0#3" 4&.*/07" IBC UFSSBTTB EF N¤ DBMFG J B D NPCMBU 1BSLJOH PQDJPOBM å #6'"-® 1JT EF IBC SFGPSNBU QFS FOUSBS B WJVSF å #6'"-® IBC DBMFG .PCMBU J FMFDUSPEPNÒTUJDT å $&/53& "+6/5".&/5 N¤ IBC CBOZ DPNQMFSU CBMDØ J BTDFOTPS QJT DPOTFSWBU å --&'*® IBC NFOKBEPS FYU SFGPSNBU BTDFOTPS å 1&1 7&/563" $&/53& .BHBU[FN EF N¤ å 1&1 7&/563" -PDBM DPNFSDJBM EF N¤ CBOZ SFGPSNBU å ."35* 16+0- N¤ IBC NFOKBEPS HSBO CBMDØ DBMFG J B D BTDFO 3FGPSNBU å

5FOJN NÏT QJTPT EF MMPHVFS USVDB OT

727 %DGDORQD

QBH JOEE

.&3$"5 503/&3 $&/53& 3FG # 1JT EF IBC CBOZ SFGPSNBU DVJOB PGm DF FYU B UFSSBTTB N¤ NFOKBEPS FYU QBSRVFU BMVNJOJ GBJH UPU SFGPSNBU QFS FOUSBS B WJVSF *EFBM QBSFMMFT 1UFT å

(03( $0/ '*/$" %& "/:4 '30/5 ."3*5*. (3&4 3FG # 3FG # IBC 1JT EF N¤ IBC NFOKBEPS FYU CBOZ CBOZ J DVJOB SFGPS DPNQMFU DVJOB BNF NBUT NFOKBEPS FYU SJDBOB DBMFGBDDJØ UPU FYUFSJPS "TDFO B CBMDØ B D BNC CPNCB DBMPS 1FS 1UFT å 1, J FOUSBS B WJVSF USBTUFS PQDJPOBM QUFT ;POB DPNVOJUËSJB å

1&1 7&/563" 1&1 7&/563" " 1301 130(3²4 3FG (6*9&3&4 # #BJYPT BNC FOUSBEB JOEFQ IBC 3FG # 1JT EF EPCMFT NFOKBEPS IBC NFOKBEPS FYU B CBMDØ DVJOB PGm DF FYU DVJOB J CBOZ SFGPSNBEB CBOZ DPOTFSWBUT QJT E FTUJM BSSFHMBU BTDFOTPS BOUJD BNC TPTUSFT 1FS FOUSBS B WJVSF BMUT *EFBM QBSFMMFT .QUFT 1UFT å

å

#6'"-® %$ 30#&35 3FG # 1JT EF N¤ BNC IBC CBOZ J DVJOB SFGPSNBUT NFOKBEPS FYU CBMDPOBEB *EFBM QBSFMMFT 0QPSUVOJUBU QUFT å

--03&%" 3FG # N¤ IBC EPCMFT CBOZ J SFGPSNBU DVJOB SFGPS NBEB BNC HBMFSJB NFOKBEPS EF N¤ FYU B HSBO CBMDØ B B J CPNCB DBMPS QBSRVFU SPVSF J BMVNJOJ BTDFOTPS QUFT å

1FS FOUSBS B WJVSF

$"4" 1&1 7&/563" 3FG # $BTB

UFSSFOZ N¤ J GBÎBOB N QBUJ N¤ J UFSSBTTTB N¤ PSJFOUBDJØ NBS TPM UPU FM EJB &T QPU FEJm DBS 1#

(0-'&4 1UFT å

$&/53& "+6/5".&/5 3FG # 1JT EF IBC EPCMFT CBOZ J DVJOB DPOTFSWBUT NFOKBEPS FYU B CBMDØ QJT QFS FOUSBS B WJVSF *EFBM QFS [POB

QUFT å

"TDFOTPS

$"4"(&.&4 0#3" 4&.*/07" $"4" " 1&1 7&/56 "/:4 1&1 7&/563" 13*. 3FG # 3" 4"-&4*"/4 3FG 1JT N¤ IBC 3FG # -PGU N¤ # $BTB N CBOZ J DVJOB

N¤ UFSSBTTB FO 1# 1BUJ N SFGPSNBUT NFOKBEPS IBC NFOKBEPS BNC HBSBUHF 1PTTJCJMJUBU FYU B HSBO DVJOB BNFSJDBOB CBOZ EF GFS EVFT WJWFOEFT CBMDØ QBSRVFU DPNQMFU J BTFP UPU OPV JOEFQFOEFOUT DJSFSFS DBMFGBDDJØ BTDFOTPS 010356/*5"5 J B B FYUFSJPS 1FS FOUSBS B WJVSF 6/*$" 4 "$$&15" &- "TDFOTPS *EFBM QBSFMMFT 4&6 1*4 &/53"%" QUFT QUFT QUT å

å

å

LPPRELOLร ULD

$0/46-5*/( Z (&45*ยป/ */5&(3"- 4 - 1SFTJEFOU $PNQBOZT ย ย #BEBMPOB 'BY +PSHF 'JMFMMB .BT

"5&/$*ยป/ 1301*&5"3*04 $0.13".04 46 1*40 %& )"45" &6304 1"(0 "- $0/5"%0

-0$"-&4 : /"7&4 &/ 7&/5" : "-26*-&3 /"7& &/ 7&/5" -"4 '3"/26&4"4 %&- 7"--ยต4 . &/ %04 1-"/5"4 %& . $"%" 6/0 1"5*0 %& . &6304 /"7& &/ 7&/5" #"%"-0/" $ $03%&34 . . 1-"/5" #"+" "-5*--0 50%04 -04 46.*/*45304 &6304 &/ 7&/5" -0$"- &/ 4 "%3*ยซ/ . &/53"%" %& $0$)&4 รฅ &/ 7&/5" -0$"- &/ #"%"-0/" $ ("-*-&6 -0$"- %*ยซ'"/0 %& . "150 1"3" $6"- 26*&3 /&(0$*0 01$*ยป/ " $0/4536*3 7*7*&/%" 0 %ร 1-&9 &/$*." %& . รฅ &/ 7&/5" #"%"-0/" 3*&3" ."5".0304 -0$"- 0 7*7*&/%" 16&35" .54 "-."$ยฒ/ .54 : -"7"#0 &6304 &/ "-26*-&3 /"7& */%6453*"- -&4 '3"/26&4&4 %&- 7"--ยต4 . &/ 1-"/5" #"+" . &/ 1-"/5" 461&3*03 (3"/ 1"5*0 %& . รฅ .&4 &/ "-26*-&3 -0$"- &/ #"%"-0/" $ 4"/ 4"-7"%03 %&45*/"%0 " 0'*$*/"4 $0/46-50 3*0 .ยฒ%*$0 %&41"$)04 %& &--04 . รฅ .&4 &/ "-26*-&3 -0$"- &/ #"%"-0/" $ 4"-7"%03 %&45*/"%0 " 0'*$*/"4 $0/46-503*0 .ยฒ%*$0 %&41"$)04 . รฅ .&4 &/ "-26*-&3 #"%"-0/" #6'"-ยฎ -0$"- $ *#&3*" .54 #"ยบ0 รฅ .&4 &/ "-26*-&3 -0$"- #"%"-0/" #6'"-ยฎ $ +0)/ -&//0/ . #"ยบ0 &95&3*03 รฅ .&4 &/ "-26*-&3 -0$"- #"%"-0/" $ */%&1&/%&/*$" . %*ยซ'"/0 /0 4"-*%" %& )6.04 -"7"#0 -0$"- &/ 1&3'&$50 &45"%0 "- .&4

1*404 &/ 7&/5" : "-26*-&3 &/ "-26*-&3 -" 4"-65 )"# #"ยบ0 1"3" &/53"3 " 7*7*3 "-26*-&3 รฅ .&4 1*40 "-26*-&3 4"/50 $3*450 #"%"-0/" )"#*5"$*0/&4 #"ยบ0 $0$*/" "4$&/403 ".6&#-"%0 1"3" &/53"3 " 7*7*3 &6304 "- .&4 &/ "-26*-&3 1*40 45" $0-0." )"# #"ยบ0 $0$*/" &6304 "- .&4 1*40 -0$"- &/ "-26*-&3 &/ #"%"-0/" 1-";" -" 7*-" .54 )"#*5"$*0/&4 #"ยบ0 : "4&0 $0$*/" 53"45&30 /&$&4*5" 3&'03."4 รฅ "- .&4 ("4504 %& $0.6/* %"% *#* */$-6*%04 &/ 7&/5" 1*40 $ +07&--"3 #"%"-0/" )"#*5"$*0/&4 $0.&%03 %& . $0/ 1"3 26&5 $0$*/" #"ยบ0 : 5&33";" 1"3" &/53"3 " 7*7*3 &6304 &/ 7&/5" 1*40 &/ $ 4"/ #36 #"%"-0/" )"# #"ยบ04 50%0 3&' $"-&' 1"3,&5 5&33";" %& .54 7&/5"/"4 %& "-6.*/*0 -"7"%&30 ;0/" $0.6/ "+"3%*/"%" 53"45&304 1-";" %& 1"3,*/( 01$ &6304 &/ 7&/5" 1*40 &/ #"%"-0/" $ 4"/5" ."3*" )"#*5"$*0/&4 . /0 5*&/& "4$&/ 403 ย 1*40 &6304 7&/5" 1*40 #6'"-" )"# #"ยบ0 $0$*/" /6&7" . &6304 &/ 7&/5" 1*40 4"/50 $3*450 )"# #"ยบ0 . &6304 &/ 7&/5" 1*40 &/ #"3$&-0/" $ #"-.&4 )"#*5"$*0/&4 #"ยบ0 $0$*/" ("-&3*" $6#*&35" . &6304 &/ 7&/5" 1*40 #"%"-0/" -" 4"-65 $ .*(6&- 13"54 . )"#*5"$*0/&4 : #"ยบ0 $0$*/" $0/ ("-&3*" #0.#" %& "*3& : $"-03 /0 5*&/& "4$&/403 13&$*0 รฅ &/ 7&/5" 1*40 &/ $ ยซ/(&- (6*.&3ยซ #"%"-0/" 4"/50 $3*450 )"# #"ยบ0 $0$*/" "4$&/403 ".6&#-"%0 1"3" &/53"3 " 7*7*3 &6304 "- .&4 &/ 7&/5" 7*7*&/%" &/ #"%"-0/" $ .63*--0 1-"/5" #"+" . %*ยซ'"/0 $0/ 4"-ยป/ $0.&%03 -"7"#0 "4&0 $0$*/" )"# $-"3"#0:"4 53"45&30 5&33";" 4ยป5"/0 . 1"5*0 +"10/ยฒ4 %*ยซ'"/0 0#3" 1&/%*&/5& 5&3.*/"3 รฅ 5&3.*/"%" รฅ $"4" &/ 7&/5" $".ยถ %h"-&--" 1-"/5"4 . )"#*5"#-&4 : . 4*/ )"#*5"3 ย 1-"/5" $6"3504 %& #"ยบ0 $0.1- 4"-ยป/ $0.&%03 $0$*/"4 )"# (0-'"4 ("3"+& 1"3" $0$)&4 &426*/&3" +"3%ยถ/ . : 0530 %& . 5&33";"4 %& . &6304

$0/46-5"3 13&$*04

QBH JOEE

727 %DGDORQD

W/^K^ ϰ , /d /KE ^ ϯϰϮ Ͳ ϭϭϴ ŵϸ͕ ϰŚĂď͕ ƐĂůſŶ Ϯϯ ŵϸ͕ ďŹнĂƐĞŽ͕ ĐŽŵŽ ŶƵĞǀŽͲ ĞdžƚĞƌŝŽƌ ďĂůĐſŶ Ϯϭŵϸ͕ ĂͲŐͲů͘ ϴϯϬ ΦͬŵĞƐ

LPPRELOLÁULD

W/^K^ E >Yh/> Z ͼ 'KZ' ʹ D '/ E W/^K^ Ϯ , /d /KE ^ ͳ /^WKE/ > ϮϬ ^ Wd/ D Z ϭϯϮ Ͳ ϳϱ ŵϸ͕ Ϯ ŚĂď͕ ƐĂůſŶ ϮϮ ŵϸ͕ ďŹ͕ ďƵĞŶ ĞƐƚĂĚŽ͕ ĞdžƚĞƌŝŽƌ͕ ƚĞƌƌĂnjĂ ϵ͕ϱŵϸ͕ ĂͲŐͲů ϲϬϬ ΦͬŵĞƐ

Ͳ DƵĐŚĂ ůƵnj͘ 'ƌĂŶĚĞƐ ƚĞƌƌĂnjĂƐ LJ ďĂůĐŽŶĞƐ͘ Ͳ ĂůĚĞƌĂ Ͳ ĐĂůĞĨĂĐĐŝſŶ Ă ŐĂƐ͘ Ͳ ĂŹŽƐ ĐŽŵƉůĞƚĂŵĞŶƚĞ ĞƋƵŝƉĂĚŽƐ͘ Ͳ WƵĞƌƚĂ ĞŶƚƌĂĚĂ ďůŝŶĚĂĚĂ͘ Ͳ ƌŵĂƌŝŽƐ ĞŵƉŽƚƌĂĚŽƐ͘ Ͳ /ŶƐƚĂůĂĐŝſŶ ĐŽůĞĐƟ ǀĂ ĚĞ ĂŶƚĞŶĂ ƌĂĚŝŽ LJ d͘s͘ Ͳ WŽƌƚĞƌŽ ĂƵƚŽŵĄƟ ĐŽ͘ ƐĐĞŶƐŽƌ͘ Ͳ WĂƌƋƵŝŶŐ ŽƉĐŝŽŶĂů ĂĐĐĞƐŝďůĞ ĚŝƌĞĐƚĂŵĞŶƚĞ Ăů ƉŝƐŽ ƉŽƌ ĂƐĐĞŶƐŽƌ͘ Ͳ ŵƉůŝĂƐ ĐŽĐŝŶĂƐ ĐŽŶ ĞŶĐŝŵĞƌĂ͕ ŚŽƌŶŽ͕ ĐĂŵƉĂŶĂ ĞdžƚƌĂĐƚŽƌĂ͕ ĂƌŵĂƌŝŽƐ͘​͘​͘​͘ ;'ĂƌĂŶơ ĂƐ͗ ƐĞ ǀĂůŽƌĂƌĄŶ ŝŶĨŽƌŵĞƐ LJ ƌĞĨĞƌĞŶĐŝĂƐͿ

ϲϰϱ ϴϰ ϰϱ ϮϬ ͮ ǁǁǁ͘ŐƉǀ͘ĞƐ

6U 3URSLHWDULR 3UHFLVDPRV SLVRV GH DOTXLOHU SDUD GDU VDOLGD D OD JUDQ GHPDQGD GH FOLHQWHV TXH WHQHPRV HQ FDUWHUD VHOHFFLRQDGRV \ VROYHQWHV

7HO ££ ,1)Ð50(6(

$)"-&54 %& $"5"-6/:" 4 - 5MG ZZZ FKDOHWVGHFDWDOXQ\D FRP

££&$6$6 2%5$ 18(9$ D .P &DPSR *ROI 6DQW (VWHYH GH 6HVURYLUHV

&$6$6 $ 9,(1726 2%5$ 9,67$ P 3$5&(/$ +$% VXLWWH %$f26 3$5.,1* 35,9$'2 )5(17( ) ) & & $ 0,1 %&1 ,QIyUPHVH VLQ FRPSURPLVR

727 %DGDORQD

QBH JOEE

3,6$=2 (1 %$'$/21$

2%5$ 18(9$ $ PLQ 3(3 9(1785$

),1&$ (648,1(5$ 2%5$ 9,67$ &21 $6&(1625 72'2 (;7(5,25 0 %$/&Ï1 +$% '2%/(6

3$5.,1* ,1&/8,'2

'Ò3/(; (;7(5,25(6 2%5$ 9,67$ +$% %$f26 3$5.,1* 35,9$'2 3$7,2 0ð 7=$6 25,(17 0$5 62/2 9(&,126

``*%&"- 103 13&$*0 35(*817( 6,1 &203520,62

Ò1,&2 (1 /$ =21$

7 * 7 * & / %" 4 % & 0 # 3 " / 6 & 7" % & $ " - * %" % " 1 3 & $ * 0 % & $ 0 4 5 & $ 0 / 4 Á -5 & / 0 4 &O #BEBMPOB Z PUSBT QPCMBDJPOFT

FODVVLILFDWV

&ODVVLILFDWV

$PN JOTFSUBS VO BOVODJ DMBTTJmDBU r " MFT OPTUSFT PmDJOFT $ -MFØ FS B #BEBMPOB r 5FM r

3&' 1&1 7&/563" 1JTP IBCJUBDJPOFT BOUFT SFGPSNBEP BTDFOTPS B B BM MBEP NFUSP BNVF CMBEP å 5&-

+OOQDKNKCTKU %QORTC 8GPFC $"4"(&.&4 QJTP EF N DPO UFSSB[B EF N CB ×PT DPNFEPS EF N DPO CBMDØO 1SFDJP å 5&-

3&' '30/5 ."3¶5*.

1JTP IBC EPCMFT CB×PT CBMDØO BTDFOTPS MJOFB EF NBS [POB DP NVOJUBSJB DPO QJTDJOB PCSB 4& 7&/%& 0 4& "-26*-" DBMFGBDD (BT OBUVSBM 1*40 FO MB TBMVE EF N å 1UFT

IBC EPCMF DPNFEPS 5&- DPDJOB CB×P UFSSB[B EF N å P å #6'"-" 1JTP FTRVJOFSP NFT 5&- B D *OEFQFOEFODJB IBC N DPDJOB Z CB×P SF 53"45&30 1"35*$6-"3 GPSNBEPT DPDJOB FRVJQB &/ 7&/5" å 5SBTUF EB Z BNVFCMBEB *EFBM SP EF N BQSPY #BEBMPOB WJWJFOEB 1SFDJP DFOUSP GSFOUF BVUPQJTUB å QUBT $VPUB QSJWBEP Z GÈDJM BDDFTP 5&- EF å NFT 3FG #V

5&- &4 7&/&/ %6&4 1-"$&4 #6'"-" +VOUP B .PMÓ EF %& 1"3,*/( BMJOFBEFT B MB 5PSSF 1JTP IBC JEFBM 1SFTJEFOU $PNQBOZT 5&- WJWJFOEB $PDJOB Z CB×P

NVZ CJFO DPOTFSWBEPT 10."3 ``0DBTJPO 1JTP #BMDØO FYUFSJPS B DBMMF EF N DPO IBC FO EF BMUVSB SFBM 1SFDJP [POB NVZ USBORVJMB $P å QUBT

DJOB Z CB×P SFGPSNBEPT $VPUB EF å NFT 3FG QVFSUBT EF IBZB WFOU EF #V 5&- BMVNJOJP "NQMJB DPDJOB $PNQMFUBNFOUF FYUFSJPS #6'"-" ``"NQMJP ÈUJDP B DBMMF 1SFDJP å FO GJODB TFNJ OVFWB QUBT $VPUB N UFSSB[B N

EF å NFT 3FG 1P CBMDØO N #B×P Z BTFP IBC GJODB DPO BTDFOTPS 5&- $BMFGBDDJØO ;POB JONF KPSBCMF Z USBORVJMB 1PS å QUBT

$VPUB EF å NFT 3FG #V 5&- 4"/50 $3*450 "NQMJP QJTP FTRVJOFSP EF N IBCJUBDJPOFT BOUFT

UPEP SFGPSNBEP BNQMJBT IBCJUBDJPOFT CB×P DPN QMFUP DPNFEPS FYUFSJPS DPO CVFOBT WJTUBT ``1SF DJPTP 1SFDJP å QUBT $VPUB EF å NFT 3FG 4D 5&-

&DPOPNJDT JOEE

727 %DGDORQD

5SFCBMM

.PUPS

7BSJT

"NJTUBUT

$MBTTFT

FODVVLILFDWV

*NNPCJMJBSJT

$PN JOTFSUBS VO BOVODJ DMBTTJmDBU r " USBWÏT E *OUFSOFU *OTFSFJYJ FM TFVT BOVODJT B USBWÏT EF MB OPTUSB XFC XXX FMUPUEJHJUBM DPN

$"4" " 1&1 7&/563" 3FG C DBTB BNC UF SSFOZ EF N¤ J GBÎBOB EF N QBUJ EF N¤ J UFSSBTTTB EF N¤ PSJFOUB DJØ NBS UÏ TPM UPU FM EJB &T QPU FEJGJDBS QC

HPMGFT QUFT å 5&-

010356/*5"5 $"4" " 1&1 7&/563" " QSPQ D (VJGSÏ 3FG C (SBO DBTB FO QC

QBUJ N J HBSBUHF 1PTTJCJMJUBU EF GFS WJWFOEFT JOEF QFOEFOUT 1SFV NQUT å 4 BDDFQUB FM TFV QJT E FOUSBEB 5&-

«5*$0 &/ 7&/5" $0-- * 16+0- 3FG 1JTP EF IBCJUBDJPOFT DPDJ OB CB×P Z UFSSB[B EF N DPO BTDFOTPS 1SFDJP å 1UBT XXX NFUSPTDVBESBEPT OFU 5&-

1" 3 , * / ( & / 7 & / 5" 3FG ;POB 1SPHSÏT N 1SFDJP å XXX NFUSPTDVBESBEPT OFU 5&-

1*40 &/ 7&/5" $0-- * 16+0- 3FG &EJGJ DJP DPO BTDFOTPS QJTP JNQFDBCMF IBC CB×P DPDJOB MBWBEFSP CBM D Ø O B B $ B M F G B D D J Ø O FYUFSJPS 1SFDJP å 1UBT XXX N F U SP T D V B E S B E P T O F U 5&-

#6'"-® %$ 30#&35 3FG C QJT BNQMJ EF IBC NFOKBEPS FYU CBOZ J DVJOB SFGPSNBUT FYUFSJPS J BNC NPMUB MMVN QUFT å 7JOF B WFVSF M 5&-

1*40 &/ 7&/5" 3FG % F M T F N J O V F WP 4"-6% 1"35 "-5" 3FG UFSSB[B N IBC C QJT N¤ BNC UF CB×PT DPDJOB DPNFEPS SSBTTB EF N¤ IBC DBMFGBDDJØO B B TVFMP CBOZT J DVJOB DPOTFSWBUT QBSLFU [POB DPNVOJUB NFOKBEPS N¤ FYU B UF SJB DPO QJTDJOB 1SFDJP SSBTTB /P IP EFJYJT FT å 1UT

DBQBS QUFT XXX NFUSPTDVBESBEPT å 5&- OFU 5&-

.&3$"5 503/&3 3FG C QJT E FTUJM BOUJD BNC IBC DVJOB SFGPSNBEB CBOZ FO CPO FTUBU B D QBSRVFU QFS FOUSBS B WJVSF QUFT å 5&-

--&'*® "-5" 3FG C QJT EF N¤ IBC NFO KBEPS EF N¤ FYU DVJOB J CBOZ FO CPO FTUBU QFS FOUSBS B WJVSF QUFT å 5&-

727 %DGDORQD

&DPOPNJDT JOEE

FODVVLILFDWV

7*7*&/%" &/ $"4"(& ."4 3FG 1JTP N IBC DPNFEPS DPDJOB CB×P MBWBEFSP HBMF SÓB WFOUBOBT DMJNBMJU TJO BTDFOTPS DFSDB EF MB QMBZB 1SFDJP å 1UBT XXX NFUSPTDVBESBEPT OFU 5&- 1&1 7&/563" 3FG EÞQMFY PCSB OVFWB Z N ÞUJMFT IBC CB×PT '30/5 ."3¶5*. WJWJFOEB UFSSB[B N Z CBMDØO FO WFOUB 3FG 1JTP DBMFGBDDJØO Z B B "TDFO N IBC CB×PT DPDJOB TPS 1SFDJPT å PGGJDF TVFMPT NBSNPM B B $BMFGBDDJØO UPUBMNFOUF å Z å 1MB BNVFCMBEP Z EFDPSBEP DPO [BT EF QBSLJOH QFRVF×BT HVTUP 4JUVBDJPO QSJWJMFHJB å (SBOEFT å EB EFMBOUF EFM NBS [POB XXX NFUSPTDVBESBEPT DPNVOJUBSJB DPO QJTDJOB OFU 5&- PQDJPOBM EPT QMB[BT EF QL

Z USBTUFSP 1SFDJP å 1UBT XXX .&3$"5 503/&3 3FG NFUSPTDVBESBEPT OFU 5&- 1JTP TJO BTDFOTPS IBC CB×P DPDJOB DPNF EPS DBMFGBDDJØO USBTUFSP UFSSBEP DPNVOJUBSJP TVFMP 1*40 4&.*/6&70 B×P EF QBSLFU 1SFDJP å 3FG 1JTP 1UBT XXX N ÞUJMFT IBC CB×PT NFUSPTDVBESBEPT OFU 5&- DPDJOB DPNFEPS UPEP FY UFSJPS B B Z DBMFGBDDJØO BTDFOTPS 1SFDJP å

1UBT XXX -" .03&3" 3FG 1JTP NFUSPTDVBESBEPT OFU 5&- SFGPSNBEP B FTUSFOBS IBC CB×P DPDJOB DP NFEPS CBMDØO MBWBEFSP 4& 7&/%& 5&33&/0 --" TJO BTDFOTPS å /0 FE N FO .POU 1UBT XXX NFMM 7JMBGSBODB DPO QSP NFUSPTDVBESBEPT OFU 5&- ZFDUP EF WJWJFOEB WJTBEP 1PS WBMPS IJQPUFDB DPODFEJ EB */'0

4"/5 30$ 3FG 1JTP 4& 7&/%& $"4" EF FO (JSPOFMMB #FSHB

EF IBC SFGPSNBEP DP N " QJF TBMJEB EF BVUPQJTUB NFEPS DPDJOB CB×P DVBS 0$"4*»/ å FO TV UP TJO BTDFOTPS 1SFDJP BDUVBM FTUBEP */'0 å 1UBT

XXX NFUSPTDVBESBEPT OFU 5&- 4& 7&/%& 1*40 N FO

.PSFSB IBC CB×PT CBMDPOFT " " DBMFGBD -0$"- &/ 7&/5" &/ $ DJØO ;POB DPNVOJUBSJB DPO 26&7&%0 CBSSJP -B 4B KBSEÓO QJTDJOB Z QJTUB EF MVE EF N EJÈGBOP CÈTRVFU 1ËSRVJOH Z USBT DPO WBEP 5&- UFSP JODMVJEPT å

*/'0

4& 7&/%& 1*40 FO BWEB .POUTFSSBU EF #BEBMPOB N BQSPY *OUFSJPS TJO BTDFOTPS IBC Z TF FOUSFHB SFGPSNBEP B TV HVTUP å */'0

$"4"4 &/ 7&/5" $&/ 530 : 1&1 7&/563" B SF GPSNBS %FTEF å Z SFGPSNBEB å *OGPSNBNPT FO MPT UFMF GPOPT Z MB XFC XXX NF USPTDVBESBEPT OFU 5&-

/Á.&304 13&.*"54

&DPOPNJDT JOEE

+OOQDKNKCTKU .NQIWGT --0(6&3 -0$"- $ $" /0/(& #"3"/&3" N ;POB $FOUSF .PMU DPNFSDJBM å NFT 1PTTJCJMJUBU WFOEB 5&- o %"-5 %& -" 7*-" &T MMPHB MPDBM DPNFSDJBM BM DBSSFS EF #BSDFMPOB DBOUPOBEB BNC 2VJOUBOB "MUB EF N BMUFMM *OUFSFTTBUT USV DBS BM 5&- "-26*-0 1*40 ."326µ4 %& .0/530*( IBC CB×PT UFSSB[B DPO UPMEP HBMFSJB UPEP FYUFSJPS FOUSF 1FQ 7FOUVSB Z (PSH 1SFV å NFT HBTUPT JODMVJEP 5&- -0$"- &/ "-26*-&3 -" 4"-6% $ $BSEFOBM $JTOF SPT N TJO DPMVNOBT DVBESBEP MBWBCP DPNQMF UBNFOUF SFGPSNBEP NPCJ MJBSJP EF PGJDJOB PQDJPOBM KVOUP MBUFSBM BVUPQJTUB

å NFT 5&-

3&' --03&%" 1JTP IBC 3FGPSNBEP BTDFOTPS CBMDØO BNQMJP TBMØO NVZ MVNJOPTP BNVFCMBEP DPO FMFDUSPEPNÏTUJDPT å 5&-

&KNNWPU &KOCTVU &KOGETGU &KLQWU &KXGPFTGU VÈULH

&KUUCDVG &KWOGPIG VÈULH

.FT PDUVCSF h

4& 7&/%& 1-";" %& 1"3 ,*/( $BOZBEØ å 5&-

727 %DGDORQD

--&'*" +VOUP B %PDUPS #BTTPMT 1JTP BMUP DPO BT DFOTPS IBCJUBDJPOFT BNVFCMBEP $PNFEPS DPO TBMJEB B CBMDØO FYUFSJPS B DBMMF $PO WJTUBT QBOPSÈ NJDBT "MRVJMFS å NFT 3&' 4"/50 $3*4 3FG -G 5&- 50 1JTP IBC BTDFOTPS 5&- SFGPSNBEP N DBMF GBDDJØO HBT OBUVSBM Z B B $ "/(&- (6*.&3" 1JTP å 5&- FO GJODB DPO BTDFOTPS TFNJ BNVFCMBEP $PNFEPS DPO 3&' #6'"-" 1JTP TBMJEB B CBMDØO FYUFSJPS IBC DPOTFSWBEP B B B DBMMF .VZ BDPHFEPS Z BNVFCMBEP DPO FMFDUSP MVNJOPTP +VOUP B DPNFS EPNÏTUJDPT UPEP FYUFSJPS DJPT "MRVJMFS å NFT CBMDØO å 5&- (BTUPT EF DPNVOJEBE JO

DMVJEPT FO FM QSFDJP 3FG 4D 5&- 3&' 4*453&--4 1JTP IBC NVZ MVNJOPTP SF $&/530 $FSDB EFM NVTFP GPSNBEP CBMDØO BTDFOTPS "NQMJP QJTP EF IBCJUBDJP UPEP FYUFSJPS BNVFCMBEP OFT EPCMFT $PNFEPS DPO FMFDUSPEPNÏTUJDPT DPO TBMJEB B CBMDØO FYUFSJPS å 5&- B D 'JODB DPO BTDFOTPS "M RVJMFS å NFT (BTUPT 3&' .0/5*("-® EF DPNVOJEBE JODMVJEPT 1JTP IBC BTDFOTPS SF 5&- GPSNBEP CBMDØO DBMFGBD DJØO HBT OBUVSBM BM MBEP 1*40 ".6&#-"%0 .0 NFUSP å 5&- 3&3" GSFOUF HBTPMJOFSB

"WEB .PSFSB "MRVJMP 3&' .0/("5 -B QJTP EF N EF BMUVSB 7JSSFJOB $BTB IBC IBCJUBDJPOFT FYUFSJPSFT CVIBSEJMMB CB×PT Z EPCMFT CBMDPOFT BTFP QBUJP Z UFSSB[BT WJTUBT NBS Z NPOUB×B 5SBT BNVFCMBEP DPO FMFDUSPEP UFSP QJTP Z PUSP USBTUFSP FO NÏTUJDPT DBMFGBDDJØO HBT UFSSB[B DPNVOJUBSJB BTDFO OBUVSBM BNQMJBT IBCJUB TPS QBSLJOH PQDJPOBM DJPOFT Z TBMØO QBSLJOH WFDJOPT 1PTJCJMJEBE WFOUB DPDIFT [POB DPNVOJUBSJB 5&- DPO QJTDJOB Z QJTUBT UFOJT å 5&- ."35* * 16+0- N¤ IBC NFOKBEPS HSBO CBMDØ $ $0-- * 16+0- &O MB DBMFG J B D BTDFOTPS 3FGPS NJTNB DBMMF "NQMJP QJTP NBU å 5&- IBC NVZ MVNJOPTP Z FO DBMMF QSJODJQBM GJODB DPO BTDFOTPS 4JO NVFCMFT "MRVJMFS å NFT (BTUPT EF DPNVOJEBE JODMVJEPT 3FG 4D 5&-

4 " / 50 $ 3 * 450 . V Z QSPYJNP B MB 3BCMB 4BO +VBO 1JTP UJQP DBTB DPO FOUSBEB JOEFQFOEJFOUF EF IBCJUBDJPOFT Z UFSSB[B EF N .VZ BDPHFEPS Z USBORVJMP ``0DBTJPO 4JO HBTUPT EF DPNVOJEBE "MRVJMFS å NFT 3FG 4D 5&- 727 %DGDORQD

&DPOPNJDT JOEE

FODVVLILFDWV

3&' -" 4"-65 #"*9" 1JTP IBC SFGPSNBEP BNVFCMBEP DPO FMFDUSPEP NÏTUJDPT SFBM BM MBEP NFSDBEP å 5&-

7HO

2WDNKSWG UWU CPWPEKQU FKTGEVCOGPVG FGUFG NC YGD YYY GNVQVFKIKVCN EQO

%$'$/21$ /2&$/6 , 2),&,1(6

FODVVLILFDWV

1&1 7&/563" 1307* %µ/$*" MPDBM QFS PGJDJOFT P NBHBU[FN EF N¤ å 5&-

+OOQDKNKCTKU 6TCURCUUQU

"-26*-0 -0$"- FO "W 1VJHSFE EF N N EF QBUJP UPEP SFGPSNBEP GSFOUF EPT DPMFHJPT 5&-

1&1 7&/563" QJT UJQVT DBTB BNC IBC NFOKB EPS EF N¤ FYU B UFSSBTTB EF N¤ CBOZ SFGPSNBU DVJOB BNFSJDBOB B D BNC CPNCB DBMPS 1SFV å 5&-

$&/53& "+6/5".&/5 N¤ IBC CBOZ DPN QMFU CBMDØ J BTDFOTPS QJT DPOTFSWBU å 5&-

1 0 35 % & # " %" -0 / " 0#3" /07" ËUJD EF N¤ BNC IBC CBOZT NFO KBEPS EF N¤ UFSSBTTFT EF J N¤ [POB DPNV OJUËSJB å *ODMPV QJT

QL USBTUFS 5&-

1 & 1 7 & / 5 6 3 " 0 # 3 " 4&.*/07" N¤ IBC CBOZ DVJOB PGGJDF NFO KBEPS EF N¤ UFSSBTTB EF N¤ DBMFG J B D å1L PQDJPOBM 5&-

53"41®4 ,JPTL QSFNTB 5&- 53"41"40 1&-626&3*" FO #BEBMPOB NVZ CVFOB [POB N OVFWB EF B×PT DPO DMJFOUFMB GJKB QPS DBNCJP EF EPNJDJMJP PQPSUVOJEBE ÞOJ DB TPMP å BMRVJMFS å 5&-

4& "-26*-" $0/ 01$*»/ " $0.13" FTQFDUBDV MBS DBTB FO MB .PSFSB B WJFOUPT EF N QB UJPT UFSSB[BT Z TPMBSJVN IBCJUBDJPOFT CB×PT

BTFP HBSBKF QJTDJOB CPEFHB $BMFGBDDJØO BJSF 3&' $"4"(&.&4 BDPOEJDJPOBEP FUD 5SBTQBTP OFHPDJP MBNQJT UFSJB DPO DBSUFSB EF DMJFO å */'0 UFT MPDBM N N &4 --0(" 6/" 1-"±" %& BMUJMMP BTFP B B OFHPDJP 1"3,*/( EF NPUP BM DFOUSF FO BDUJWP å BMRVJMFS EF #BEBMPOB 5SVDB BM å 5&-

4& 53"41"4" 1&-626& "-26*-0 1-"/5" #"+" 3¶" Z DFOUSP EF CFMMF[B FO %F PCSB OVFWB B FTUSFOBS #BEBMPOB DFOUSP N FO DBTDP BOUJHVP EF 4U UPDBEPSFT MBWBDBCF #PJ IBCJUBDJPOFT QBUJP [BT MBCPSBUPSJP WFTUVBSJP EF N CB×P Z DPDJOB DMJFOUFT UPDBEPS NBRVJMMB FRVJQBEPT å NFT Z KF DBCJOBT FTUÏUJDB TBMB å EF GJBO[B 5&- VWB IPSJ[POUBM VMUSB SÈQJEP

EVDIB BMNBDFO #B×P WFTUVBSJP QFSTPOBM BMRVJ 1*404 "-26*-&3 $ "OUP MFS JOUFSFTBOUF `5SBTQBTP OJP #PSJ 1JTPT EF 0QPSUVOJEBE 5&- B N IBC TVJUUF DPO CB×P Z BSNBSJP EPCMFT CB×P HFOFSBM DPO CB×FSB 53"41"40 1"/"%&3*" DPDJOB N DPNFEPS Z 1"45&-&3*" DFOUSP #B CBMDØO "MRVJMFS å NFT EBMPOB 'SFOUF DPMFHJP *OGØSNFTF 5PUBMNFOUF FRVJQBEB 0DB 4& "-26*-" QMB[B EF QBS TJØO QPS OP QPEFS BUFOEFS LJOH QBSB DPDIF HSBOEF *OUFSFTBEPT MMBNBS 5&- UJQP Y FO MB $ 1JSJOFPT CBSSJP .PSFSB */'0

#6'"-® QJT EF IBC SF GPSNBU QFS FOUSBS B WJVSF å 5&- "-26*-0 )"#*5"$*»/

#"%"-0/" $&/530 B DIJ DB TF×PSB RVF MFT HVTUFO 1&1 7&/563" QJT EF IBC MBT NBTDPUBT å 5&- BNC NPCMFT BTDFOTPS QFS FOUSBS B WJVSF å .FT 5&-

"7 "'3*$" QJT EF N¤ IBC SFGPSNBU BTDFO TPS å .FT 5&-

&DPOPNJDT JOEE

727 %DGDORQD

t 3&1"3"$*» t */45"-r-"$*» t 4&37&* 5µ$/*$ t ."/5&/*.&/5 t 505&4 -&4 ."326&4

4&37&* 5µ$/*$

.¾#*13&64 &$0/¾.*$4 XXX JOGPSNBUJDB CBEBMPOB DPN

FODVVLILFDWV

63(&/ (6"3%"4 '03&4 5"-&4 Z CPNCFSPT QBSB #BSDFMPOB 4VFMEP BQSPY å 4ØMP OBDJPOBMJEBE 4&º03" #64$" 53"#"+0 &TQB×PMB */'»3."5& EF MJNQJF[B QPS MBT UBSEFT 5&- 1&340/"- 1"3" 53" $)*$" 3&410/4"#-& 4& #"+"3 $0.0 $&-"%03 0'3&$& QBSB DVJEBEP EF BVYJMJBS EF FOGFSNFSÓB Z QFSTPOBT NBZPSFT Z USB BVY EF HVBSEFSÓB QBSB CBKP QPS IPSBT 5&- JOTUJUVU DBUBMË EF MB 4BMVU */'»3."5&

6TGDCNN

"44*45µ/$*" " %0.*$*-* t %&41-"±".&/54 (3"56¸54

"&3016&350 OVFWB UFS NJOBM QSFDJTB QFSTPOBM DPO JOHMÏT QBSB TVQFSWJTPSFT EF WVFMP BHFOUFT EF QBTBKFSPT Z B[BGBUBT EF UJFSSB 4VFMEP IBTUB å .FT 1SFQÈ QBSB BDDFEFS 5&- 4&º03" 4& 0'3&$& QBSB SBUF USBCBKBS QPS IPSBT DVJ EBOEP QFSTPOBT NBZPSFT 3&$&1$*0/*45"4 : "69* RVFIBDFSFT EPNÏTUJDPT EF -*"3&4 BENJOJTUSBUJWPT MVOFT B WJFSOFT JOUFSJOB QSFDJTBO BZVOUBNJFOUPT Z $PO FYQFSJFODJB Z SFGFSFO VOJWFSTJEBEFT 1SFQÈSBUF DJBT 5&- QBSB BDDFEFS 5&-

4&º03 4& 0'3&$& QBSB USBCBKBS FO FNQSFTBT DPO 4& 13&$*4"/ +»7&/&4 FYQFSJFODJB DPNP DFSSBKF QBSB DVFSQP QPMÓDJB Z NPT SP IBDFS QFSTJBOBT QBMFUB TPT E FTRVBESB 1MB[BT QJOUPS $PO QBQFMFT FO SF BCJFSUBT TØMP DPO OBDJPOB HMB 5&- MJEBE &TQB×PMB */'»3."

5& $ ) * $ " 3 & 4 1 0 / 4 " # - & #64$" 53"#"+0 UBSEFT &.13&4" %& 4&37*$*0 OPDIFT MJNQJF[B DVJEBOEP #64$" $0.&3$*"-&4 QFSTPOBT NBZPSFT 5&- P QFSTPOBT DPO EPO EF

HFOUF B UJFNQP QBSDJBM )PSBSJP GMFYJCMF JOHSFTPT 1"3&+" #0-*7*"/" 4& BMUPT TFHÞO WBMÓB *OUFSF 0'3&$& QBSB DVJEBS GJODB TBEPT FOWJBS DVSSÓDVMVN B FO #BSDFMPOB P BMSFEFEP UTDVSSJDVMVN!ZBIPP FT SFT 5&- $)*$" 4& 0'3&$& QBSB $)*$0 #0-*7*"/0 4& USBCBKBS FO MJNQJF[B NFEJB 0'3&$& DPNP PGJDJBM EF KPSOBEB QPS IPSBT $PO EF QMBEVS QFØO BWBO[BEP FYQFSJFODJB 5&- P DVBMRVJFS PUSP UJQP EF USB CBKP $PO QBQFMFT FO SFHMB +PSOBEB DPNQMFUB 5&- {5*&/&4 $"3/² %& $0/

%6$*3 6SHFO QSPGFTP SFT EF BVUPFTDVFMB QBSB 4&º03*5" 4& 0'3&$& QSÈDUJDBT $PNQBUJCMF DPO QBSB USBCBKBS FO MJNQJF[B PUSB BDUJWJEBE (BOB IBTUB DVJEBEP EF QFSTPOBT NB å .FT 1SFQÈSBUF QBSB ZPSFT DBOHVSP +PSOBEB JODPSQPSBSUF 5&- DPNQMFUB QPS IPSBT 5&-

4& 0'3&$& $)*$0 EF 4&º03" #0-*7*"/" 4& B×PT DPO BNQMJB FYQFSJFO 0'3&$& QBSB MJNQJF[B DJB FO FM TFDUPS QBTUFMFSÓB DVJEBEP QFSTPOBT NBZPSFT QBOBEFSÓB CPMMFSÓB SF DBOHVSP NB×BOBT UBSEFT P QPTUFSÓB Z FTQFDJBMJEBEFT GJOFT EF TFNBOB 5&- 5&-

$0$*/&3" TF×PSB TF PGSF DF FYQFSJFODJB FO UBQBT NFOÞ DBTFSP P CJFO DPNP DBNBSFSB 5&-

727 %DGDORQD

&DPOPNJDT JOEE

FODVVLILFDWV

4& 0'3&$& 4&ยบ03" Uร UVMP NPOJUPSB DPNP DBOHVSP DVJEBS QFSTPOBT NBZPSFT %JTQPOJCMF QPS MBT UBSEFT $PO FYQFSJFODJB 5&-

4&ยบ03" 4& 0'3&$& QBSB MJNQJF[B QPS IPSBT NBSUFT NJร SDPMFT KVFWFT NBร B OBT NFEJB KPSOBEB NBร B OBT UBSEFT OPDIFT GJOFT TFNBOB 5&-

4&ยบ03" 4& 0'3&$& QBSB USBCBKBS FO MJNQJF[B DPO FYQFSJFODJB $VJEBS QFS TPOBT NBZPSFT 5&-

$)*$" +07&/ #64$" 53" #"+0 EF MJNQJF[B DVJEBEP EF QFSTPOBT NBZPSFT OJ ร PT JOUFSJOB P QPS IPSBT DPO SFGFSFODJBT 5&-

$)*$" 4& 0'3&$& QPS IPSBT NFEJB KPSOBEB QBSB DVJEBS B QFSTPOBT NBZPSFT DPO FYQFSJFODJB 5&-

4& 0'3&$& $)*$" QBSB USBCBKBS QPS IPSBT P GJOFT EF TFNBOB QBSB MJNQJF[B FO HFOFSBM 5&-

4& 0'3&$& $)*$" QPS MBT NBร BOBT QBSB MJNQJF[B FO HFOFSBM DVJEBS QFSTPOBT NBZPSFT DBOHVSP DPO FYQFSJFODJB Z SFGFSFODJBT 5&-

4&ยบ03" +07&/ #64$" 53"#"+0 EF MJNQJF[B DBOHVSP 1PS IPSBT NFEJB KPSOBEB $PO QBQFMFT FO SFHMB $PO FYQFSJFODJB Z SFGFSFODJBT 5&-

4&ยบ03" 3&410/4"#-& 4& 0'3&$& QBSB USBCBKBS DVJEBOEP QFSTPOBT NBZP SFT OJร PT MJNQJF[B QPS IPSBT %JTQPOJCJMJEBE UPUBM 5&-

'"-5" %&1&/*&/5& 1"3" '&33&5&3*" FO CBEBMPOB JOUFSFTBEPT FOWJBS DVSSJV MVN DPO GPUP B GFSSFUFSJB

C $I $ '3"/$&4$ -" :3&5 #"%"-0/"

4&ยบ03" +07&/ #64$" 53"#"+0 QBSB BUFODJร O EF QFSTPOBT NBZPSFT P EJTDBQBDJUBEBT Z MJNQJF[B QPS IPSBT JOUFSJOB 0GSF[ DP TFSJFEBE Z FYQFSJFODJB 5&-

'" -5" % & 1 & / % * & / 5" 1"3" .&/"+& &/ '&33& 5&3*" EF #BEBMPOB JOUF SFTBEBT FOWJBS DVSSJDVMVN DPO GPUP B 'FSSFUFSJB C $I $ '3"/$&4$ -":3&5 #"%"-0/"

+07&/ 636(6":" #64 $" 53"#"+0 EF DBNBSFSB DPO FYQFSJFODJB P EF MJN QJF[B QPS IPSBT 5&-

*/(&/*&30 */'03.ยซ5* $0 Bร PT FYQFSJFODJB TF PGSFDF QBSB EFTBSSPMMP XFC DPSQPSBUJWB QFRVFร BT FNQSFTBT %FTEF รฅ 4& 0'3&$& $)*$0 QBSB XFCDPPSQPSBUJWB!HNBJM DVJEBS B TFร PS NBZPS MMF DPN WBSMP B QBTFBS MJNQJF[B UBNCJร O DPNP KBSEJOFSP 4&ยบ03" 4& 0'3&$& QBSB QFร O NP[P BMNBDร O P TJ DVJEBS QFSTPOBT NBZPSFT NJMBS 5&- MJNQJF[B QPS IPSBT EJTQP OJCMF UPEP FM Eร B NFEJB 4&ยบ03" #64$" 53"#"+0 KPSOBEB OPDIFT GJOFT EF DVJEBOEP QFSTPOBT NBZP TFNBOB $PO SFGFSFODJBT SFT -JNQJF[B DBTBT EF 5&- QFOEJFOUB $PO QBQFMFT FO SFHMB 5&- 4&ยบ03*5" 4& 0'3&$& QBSB USBCBKBS QPS MBT UBSEFT 4&ยบ03" 4& 0'3&$& QBSB GJOFT EF TFNBOB QPS IPSBT DVJEBS QFSTPOBT NBZPSFT MJNQJF[B QMBODIB DVJEBEP EJTQPOJCMF UBSEFT QPS IP QFSTPOBT NBZPSFT $PO FY SBT $PO SFGFSFODJBT 5&- QFSJFODJB QBQFMFT FO SFHMB

5&-

&DPOPNJDT JOEE

727 %DGDORQD

$)*$" 4& 0'3&$& QBSB USB CBKBS QPS IPSBT EF DBOHVSP MJNQJF[B 5&- $)*$" 4& 0'3&$& QBSB USB CBKBS QPS IPSBT EF DBOHVSP MJNQJF[B 5&- .6+&3 1"3"(6":" TF PGSFDF QBSB MJNQJF[B DVJ EBEP EF QFSTPOBT NBZPSFT DBOHVSP QPS MBT NBร BOBT $PO SFGFSFODJBT 5&-

4& 0'3&$& $)*$0 EF Bร PT DPNP DIร GFS USBOT QPSUJTUB Z NP[P EF BMNBDร O DPO DBSOFU EF DBSSFUJMMFSP 1FSTPOB SFTQPOTBCMF TFSJB Z EJOร NJDB DPO DBQBDJEBE SFTPMVUJWB /BDJPOBMJEBE FT QBร PMB *OUFSFTBEPT MMBNBS BM 4&ยบ03" 1"3"(6":" 4& 0'3&$& EF MJNQJF[B Z NF EJB KPSOBEB #VFOBT SFGFSFO DJBT 5&-

"( 505" &%"5 /&$&44*5" GJYFT JOUFSJOFT QFS IPSFT 8CTKU QFSTPOFT EF DPNQBOZJB QFS OFOT J BWJT 5&-

&41*3*56 4"/50 Uร RVF NF BDMBSBT UPEP RVF JMV "( 505" &%"5 /&$&44*5" NJOBT MPT DBNJOPT QBSB JOGFSNFSFT QVFSJDVMUPSFT RVF ZP BMDBODF NJ JEFBM 5ร GJTJPUFSBQFVUFT BVY EF RVF NF EBT FM EPO EJWJOP DMร OJDB B EPNJDJMJ J IPTQJUBM EF QFSEPOBS Z PMWJEBS FM I FUD 5&- NBM RVF TF IBDF DPOUSB NJ Z FO UPEPT MPT JOTUBOUFT EF .&/4"+&304 '63(0/& NJ WJEB FTUBT DPONJHP ZP 5" QBSB SFQBSUPT Z QFRVFร B RVJFSP FO FTUF DPSUP EJร MP QBRVFUFSร B FO #BSDFMPOB Z HP BHSBEFDFSUF QPS UPEP DJOUVSร O 1SFTFOUBSTF MVOFT Z DPOGJSNBS VOB WF[ NBT Z NBSUFT UBSEFT EF B RVF OP RVJFSP TFQBSBSNF FO $ 10/*&/5& EF UJ QPS NBZPS RVF TFB MB JMVTJร O NBUFSJBM %FTFP #+4 #"%"-0/" FTUBS DPOUJHP Z UPEPT NJT . & / 4 " + & 3 0 4 . 050 TFSFT RVFSJEPT FO MB HMPSJB FMFWBEPT JOHSFTPT 1SF FUFSOB (SBDJBT QPS UV NJ TFOUBSTF MVOFT Z NBSUFT TFSJDPSEJB QBSB DPONJHP Z UBSEFT EF B MPT NJPT "HSBEFDF MB HSB FO $ 10/*&/5& #+4 DJB BMDBO[BEB +04&'*/" #"%"-0/" &4 3&("-" "3."3* NB '"-5" %&1&/%&/5" 1&3 USJNPOJ DPMPS DJSFSFS

'03/ %& 1" OP FT OFDFT Y Y BNC BMUFMM Tร SJB FYQFSJร ODJB GPSNBDJร 5&- B Dร SSFD EF M FNQSFTB 1PS .0/54& UBS DVSSร DVMVN B $ $0/ 4& "-26*-" )"#*5"$*ยป/ 26&45" DIJDB 5&- 4& 13&$*4" .&$ยซ/*$0 EF (3"$*"4 " 4"/ +6%"4 BVUPNร CJM PGJDJBM EF ย DPO 5"%&0 Z BM 4BHSBEP $PSB CBTUBOUF FYQFSJFODJB 5&- [ร O QPS MPT GBWPSFT SFDJCJ

EPT " $ 7

51.7%+105 2#55#6'/25

&DPOPNJDT JOEE

0$"4*ยป/ 7&/%0 $&/ 53"-*5" %*(*5"- /&3*4 OVFWB TPMP NFTFT EF VTP รฅ 5&- 4& "-26*-" )"#*5"$*ยป/ FO #BEBMPOB B DIJDB DPO EFSFDIP B UPEP FM QJTP (BTUPT JODMVJEPT $FSDB .FUSP - รฅ NFT -MB NBS B QBSUJS EF MBT I "OB 5&-

/165 '0%4'7#65

57&1-75 727 %DGDORQD

"-26*-0 )"#*5"$*ยป/ TF ร PSB TFร PSJUB FTUVEJBOUF

รฅ HBTUPT JODMVJEPT &O $FOUSP #BEBMPOB 5&-

FKHร EKN

Hร EKN

4& 0'3&$& 4&ยบ03" &41" ยบ0-" QBSB DVJEBS QFSTPOBT NBZPSFT OPDIF P Eร B $PO SFGFSFODJBT 5&-

4&37*$*0 5ยฒ$/*$0 &/ #" %"-0/" 13&$*4" 5ร DOJDP 4 & / :0 3 " $ "5" - " / " EF )BSEXBSF QBSB UBMMFS %& #"%"-0/" BOZT JOGPSNร UJDP 4F PGSFDF DPO T PGFSFJY QFS B DVJEBS P GFS USBUP IPSBT TFNBOB DPNQBOZJB B BWJT P OFOT MFT BMUB FO 4 4 JODPSQPSB 3FGFSร ODJFT 5&- DJร O JONFEJBUB &OWJBS $7 B

JOGP!MFLLFSOFU FT 4&ยบ03" $0/ .6$)" &91&3*&/$*" Z CVFOBT 4& 13&$*4" $)*$" EF SFGFSFODJBT TF PGSFDF QBSB BDBEFNJB QBSB QSร DUJDBT FO QMBODIBS MJNQJF[B QPS IPSBT QFMVRVFSJB 3".#-" 4"/ Z GJOFT EF TFNBOB 5&- +6"/ % --03&%"

4& /&$&4*5" 0'*$*"-" EF $)*$" 4& 0'3&$& QBSB QFMVRVFSJB FO #BEBMPOB DVJEBS QFSTPOBT NBZPSFT 5&-

5&-

FODVVLILFDWV

. 0'&3&*90 1&3 $6*%"3 OFOT BWJT BDPNQBOZBS MPT BM NFUHF FUD +PSOBEB JOEJ GFSFOU 5JOD DPUYF 5&- .POUTF HJM

FODVVLILFDWV

#OKUVCVU

/QVQT

4&º03" %& "º04 EF TFB DPOPDFS TF×PSBT EF TV FEBE P TJNJMBS QBSB TBMJS GJOFT EF TFNBOB 5&- $3*45*/"

4 & 7 & / % & $ * 5 3 0 & / 4"90 CVFO FTUB EP QSFDJP å 5&-

%NCUUGU

130'&403" 5*56-"%" EB DMBTFT QBSUJDVMBSFT Z HSVQP 1SJNBSJB TFDVOEBSJB CBDIJ MMFSBUP NØEVMPT GSBODÏT 4FMFDUJWJEBE GPSNBDJØO 4& 7&/%& .050 */'"/ IÈCJUPT EF FTUVEJP 5&- 5*- EF B B×PT EF U

Z DD TFNJBVUPNÈUJDB FO QFSGFDUP FTUBEP å ,BXBTBLJ DD EF DPNQFUJDJØO DBSCPOP FO CVFO FTUBEP å

*/'0

-*$&/$*"5 %»/" $-"44&4 E FTP CBUYJMMFSBU 4FMFDUJWJ UBU NÛEVMT FUD .BUFT GÓTJDB RVÓNJDB $ JOEVT USJB 5&-4 3".0/

4& 7&/%& .050 ,ZNLP (SBOE %JOL DD FO CVFO FTUBEP QPS

*/'0

.&453" %»/" $-"44&4 EF SFGPSÎ 5&-

&4 %0/&/ $-"44&4 QBS UJDVMBST EF QSJNËSJB J FTP 5PUFT MFT BTTJHOBUVSFT 5&-

"/(-µ4 DMBTTFT QBSUJ DVMBST JOEJWJEVBMT QFUJUT HSVQT IPSBSJ 'MFYJCMF DPO WFSTB CVTJOFTT .ÒUPEFT QFSTPOBMJU[BUT 5&-

--*$&/$*"5 %»/" 3&'03± &4$0-"3 EF NBUFNËUJ RVFT 'ÓTJDB J RVÓNJDB &TP J CBUYJMMFSBU #BEBMPOB -B 1MBOB 5&-

$0.&3$*"-4 " 5&.14 1"3$*"&M 505 #"%"-0/" OFDFTTJUB $0.&3$*"-4 BVUÛOPNT B 5&.14 1"3$*"4J KB USFCBMMFT J WPMT HVBOZBS VO TPCSF TPV CVTRVFN QFSTPOFT DPN UÞ RVF WVMHVJO USFCBMMBS B IPSFT MMJVSFT EF DPNFSDJBMT EF QVCMJDJUBU QFS MB SFWJTUB &M 505 #BEBMPOB

3&26&3*. t #POB QSFTFODJB t (BOFT EF USFCBMMBS 1FS B NÏT JOGPSNBDJØ 0'&3*. t $PNJTTJØ EF MB WFOEB EF QVCMJDJUBU t -MJTUBUT EF DMJFOUT J DBSUFSB

&DPOPNJDT JOEE

5FM P P FOWJBS DVSSÓDVMVN BNC GPUP B

YFTDB!FMUPUEJHJUBM DPN

727 %DGDORQD

/ - Zi - |.% .0

&TQFDJBM /BEBM %FT EF TFNQSF MB QVCMJDJUBU B FTUBU VOB FJOB NPMU JNQPSUBOU QFS UJSBS FOEBWBOU OP ÏT VOB EFTQFTB ÏT VOB JOWFSTJØ 4J OP FU EPOFT B DPOÒJYFS OP FYJTUFJYFT

&M QSPQFS EF EFTFNCSF FEJUBSË DPN ÏT DPTUVN -}&41&$*"- %& /"%"- -B UJSBEB TFSË EF FYFNQMBST J MB TFWB EVSBEB RVJO[FOBM BNC PGFSUFT J VOB DMBSB SFQSFTFO UBDJØ EFM DPNFSÎ EF #BEBMPOB .POUHBU J 5JBOB 4J FTUFV JOUFSFTTBUT B QVCMJDBS BMHVO BOVODJ FO BRVFTUB FEJDJØ USVRVFV QFS JOGPSNBS WPT BCBOT EFM EF EFTFNCSF

{% - .i - .% .- N - . %{i.% .{ B B 5&-

CBEBMPOB!FMUPUEJHJUBM DPN

727 %DGDORQD

&YUSB/BEBM JOEE

WHFQRORJLD

VGEPQNQIKC

QRYHWDWV JDGJHWV WHOHIRQLD VRIWZDUH LQWHUQHW

3BDØ EFM WJEFPBm DJPOBU $BQ 7***

5FDOPMPHJB t &O FM EBSSFS DB QÓUPM WBN QBSMBS EFMT TVQPSUT ÛQUJDT NÏT VUJMJU[BUT ÏT B EJS FMT EJTDT $% J FMT EJTDT %7% J UBNCÏ WBN DPNFOUBS FMT GBDUPST RVF QPEJFO JOn VJS FO FM TFV NBM GVODJPOBNFOU &M CPO FTUBU EFM MFDUPS ÛQUJD BJYÓ DPN MB RVBMJUBU EFMT EJTDT ÏT GPOBNFOUBM QFSRVÒ MB SFQSPEVDDJØ TJHVJ DPSSFDUB .BMBVSBEBNFOU MB CBJYBEB EF QSFV EF UPUT BRVFTUT QSPEVDUFT IBO GFU RVF FMT QSPCMFNFT TPW JOUFHJO NÏT /P ÏT DFSU RVF FMT MFDUPST NÏT FDPOÛNJDT TØO FMT RVF WBHJO NJMMPS TPWJOU UF OFO UBO FTDBTTB NFNÛSJB EF SFQSPEVDDJØ RVF BMHVOT EJTDT OP TØO DBQBÎPT EF MMFHJS MPT DPSSFDUBNFOU J MB JNBUHF RVFEB DPOHFMBEB 1FSÛ BGPSUVOBEB NFOU UFOJN VO TVQPSU RVF FO VO GVUVS QPU TPMVDJPOBS BRVFTUT QSPCMFNFT FM #MV SBZ 4JTUFNB ÛQUJD EF SFQSPEVDDJØ FO BMUB EFm OJDJØ #MV SBZ -FT QSJNFSFT NBSRVFT NVOEJBMT WBO EFTFOWPMVQBS EJWFSTPT TJT UFNFT EF SFQSPEVDDJØ FO BMUB EFm OJDJØ EFMT RVBMT m OBMNFOU IB USJPNGBU FM TJTUFNB #MV SBZ &M #MV SBZ QFSNFU FOSFHJTUSBS NPMUB NÏT JOGPSNBDJØ FO VO EJTD RVF FMT OPSNBMT 5BOU ÏT BJYÓ RVF FO VO EJTD %7% #MV SBZ IJ DBWFO DJOD WFHBEFT NÏT RVF FO VO EJTD %7% OPSNBM *" 13*. ®3 &40 "5 40$*"#"59*--&3 $&/53& %& 3&1®4 &456%*"/5*5µ$/ *26& 4 * . µ50% &4 % h&456 %* Eh"1307"54 FO 1307" %h"$$²4 " $ ' (3"6 .*5+" $ *OEFQFOEÒODJB " #"%"-0/" 5FMT XXX UPUSFQBT DPN

7e&1,&2 ,1)250É7,&2 /$6 +25$6 6 , $ '

"JYÛ PCSF MFT QPSUFT B UPUT FMT WJEFPBGJDJPOBUT QFS USFCBMMBS BNC WÓEFP E BMUB EFm OJDJØ "NC ( EF DBQBDJUBU QPEFN UBNCÏ UFOJS WBSJFT IPSFT EF WÓEFP FO )% DPTB JNQPTTJCMF m OT BSB 1FS UBOU TJ UFOJN VOB DËNFSB )% VO QSPHSBNB E FEJDJØ RVF HFTUJPOJ BSYJVT FO )% EF EJGF SFOUT DPEJT J VOB HSBWBEPSB EF #MV SBZ QPESFN DPNQMFUBS VO USFCBMM RVF QPESË TFS SFQSPEVÕU QFMT SFQSPEVDUPST EPNÒTUJDT E BRVFTU TJTUFNB &MFNFOUT )% DËNFSFT QSPHSBNFT E FEJDJØ HSBWBEPSFT J SFQSPEVDUPST QBOUBMMFT EJTDT #MV SBZ - BMUB EFm OJDJØ FO WÓEFP UPU KVTU FTUË OBJYFOU J QFS UBOU FMT RVF IJ DPNFODFN B USFCBMMBS TPN VOB NJDB DPN QJPOFST 5BOU ÏT BJYÓ RVF EF GFU OP IJ IB NBT TFT DËNFSFT OJ QSPHSBNFT OJ HSBWBEPSFT OJ UBO TPMT EJTDT B EJTQPTJDJØ EFM HSBO QÞCMJD "MHVOFT NBSRVFT KB UFOFO DË NFSFT )% RVF FOSFHJTUSFO FM WÓEFP VUJMJU[BOU EJGFSFOUT DPEJT "NC VO QFUJU QSPHSBNB RVF TVCNJOJTUSFO FT QPEFO SFQSP EVJS BRVFTUT BSYJVT B M PSEJOBEPS QFSÛ OP FT QPEFO FEJUBS OJ GFS VO EJTD %7% )J IB BMHVOT QSPHSB NFT E FEJDJØ RVF KB QFSNFUFO FEJUBS FO )% J RVF B NÏT BD DFQUFO MB NBKPSJB EF DPEJT RVF VUJMJU[FO MFT EJGFSFOUT NBSRVFT

QBH JOEE

2EGALAgT ELS TEUS RECORDS .O DEIXIS QUE ES FACIN MALBÏ A LgARMARI 2EPORTATGES DE VIDEO FOTOGRAl A AUDIOVISUALS

,167,787 &$7$/­ '( &20(5d

0OSEM AL DIA TOTS ELS TEUS RECORDS

7HO

(SVQ +P UBNCÏ TØD EF #57 #BEBMPOB EF 5PUB MB 7JEB .FNCSFT NFNCSFT *OUFSFTTPT 1FMT CBEBMPOJOT RVF NFOHFO NJDBDPT UPS OFNJT B DBTB UFOFO CBEJVT $SFNFO VO EJNPOJ J GBO VOB TBSEJOBEB B CBJY B NBS

7HO

(SVQT #BEBMPOJOT BM

$VSTPT EF JOGPSNËUJDB $POUBCJMJEBE GBDUVSBDJØO Z OØNJOBT QPS PSEFOBEPS $VSTPT FTQFDJBMFT QBSB FNQSFTBT 0GJNÈUJDB 1SPHSBNBDJØO Z .VMUJNFEJB

&XUVRV LQJOpV WRGRV ORV QLYHOHV *UXSRV HVSHFLDOHV SDUD QLxRV D SDUWLU GH DxRV /DV DXODV FXHQWDQ FRQ 79 FRQHFWDGR YtD VDWpOLWH SDUD KDFHU PiV GLYHUWLGRV \ HIHFWLYRV ORV HMHUFLFLRV GH DGLHVWUDPLHQWR GHO RtGR D OD GLFFLyQ GHO LGLRPD

3BNPO "MBSØ 5ÒDOJD FO BVEJPWJTVBMT r %*(*5"- 61

"$"%µ.*&4

5HSDUDFLRQHV SXQWXDOHV \ WRWDOHV D GRPLFLOLR 7DPELpQ SURJUDPDGRU :HE HOHFWUyQLFR DQDOLVWD 'HVSOD]DPLHQWRV \ SUHVXSXHVWRV JUDWLV SDUD VLHPSUH 5DIDHO 0DUWtQH]

m OT J UPU QFSNFUFO m OBMJU[BS MB GFJOB FOUSF E BMUSFT PQDJPOT FO VO EJTD #MV SBZ 'JOBMNFOU QFS BDBCBS EF HBVEJS EFM WÓEFP FO )% OFDFTTJUFN VO SFQSPEVDUPS #MV SBZ J VO UFMFWJTPS )% 5FOJV FO DPNQUF RVF IJ IB EPT UJQVT EF QBOUBMMFT FO )% MFT RVF QPTB i)% SFBEZ Jw J MFT RVF QPTB i'VMM )% Qw RVF TØO MFT WFSJUBCMFT QBOUBMMFT E BMUB EFm OJDJØ DBQBDFT EF SF QSPEVJS FNJTTJPOT EF 57 FO GVMM )% J BNC DPOOFDUPST )%.* DPNQBUJCMFT BNC GVMM )% QFS DPOOFDUBS SFQSPEVDUPST #MV SBZ 4J WPMFV BMUB EFm OJDJØ UPUBM GVMM )% IFV EF UFOJS FO DPNQUF EPODT BRVFTUB EJGFSÒODJB FOUSF QBOUBMMFT

CINEMA DE MM

DIAPOSITIVES FOTOS VIDEO

6ISITA LA WEB WWW DIGITAL UP CAT 4EL

727 %DGDORQD

SFKJMMB QMBOB JOEE

4FTTJPOT EF Ã¥ BNC BCPOBNFOU EFT EF Ã¥ 1SFVT QFS TFTTJÃ&#x2DC; DPOTVMUBS BMUSFT PGFSUFT

NFOU J O F W FKV 'PUPS BDJBM G

)UDQFHVF /D\UHW Â&#x2021; 7HO

/PV 4VO'BDUPSZ QBMNFSFT JOEE